India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
A less highlighted instrument that has contributed to China’s growing global influence in developing countries worldwide is bilateral currency swaps between China’s central bank and the central banks of these countries.
The escalation of the New Cold War offers an opportunity to rethink China’s dependence on an export-orientated economy and speedy financialization.
The leaderships in Moscow and Beijing have clearly done their homework while building their alliance attuned to the 21st century.
The visit of the Chinese Foreign Minister Wang Yi to Moscow on September 10-11, 2020 and the joint statement issued at the end of the visit stands out as a turning point in the evolution of the Sino-Russian entente. Part 2 of this three part article.
All signs are that the 21st century will see a struggle for hegemony over the world economy between the US and China. This may be different from similar struggles in the past, due to the uniqueness of China, which is neither entirely capitalist nor entirely socialist.
While US continues to suffer the devastating impacts of poor management of the COVID-19 pandemic, China’s people-centered approach serves as a model to follow.
China undoubtedly triggered the current confrontation but has acted the way it has because it believes India is no longer abiding by the agreements which allowed the bilateral relationship to prosper until Modi changed course.
While China’s economic system differs sharply from a Western capitalist system, it is definitely not socialist in the sense of having overcome the employer/employee structure.
From tariffs to the TikTok ban to slurs about the “kung flu”, Trump has been expressing mounting frustration over China and ramping up attacks on an inexorably rising power on the global stage.
It is a dangerous fallacy to see the the country as a scaled-up version of the individual body. Yet, displacing that equation is extremely hard.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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