World News

Is China’s stock market bubble bursting?

In the last number of weeks $3.2 trillion has been wiped off the value of China’s shares. The following article, written by an author for chinaworker.info at the beginning of July, looks at the reasons behind this tumble in share prices. “Before leaving the world, I wish to say I concede defeat. With capital of 1.7 million yuan and four-times ...

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Oxi!-No to austerity and Troika tyranny in Greece

Events in Greece have thrown the entire Eurozone into crisis and threaten its very existence. Greek banks were closed on Monday after the European Central Bank (ECB) stopped the liquidity lifeline that kept Greek banks afloat during months-long run on deposits. As of the time of publication, it is in the balance whether Greece’s latest debt payment due to the ...

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Qatar: World cup of corruption and exploitation

By Paddy Meehan Sepp Blatter’s decision to resign as FIFA President didn’t come as a result of the horrifying conditions migrant workers face in building the new stadiums in Qatar, but as a final attempt to save the corrupt elite at the top of the federation. A number of the voting members of the selection committee for the 2018 and ...

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Top 50 US companies hoarding $1 trillion in cash

By Manus Lenihan The fifty biggest companies in the United States are sitting on piles of money adding up to $1.1 trillion. Apple, Microsoft, Google, Pfizer and Cisco alone have $439 billion between them (Financial Times). Like dragons sprawled watchfully dozing over heaps of gold, these gigantic corporations would fly into a rage over any plans to nationalise or raise ...

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Greece: Subordination to Troika or rupture with austerity?

Statement by Xekinima, sister organisation of the Socialist Party in Greece The Greek picture is becoming clearer and clearer. We are now in May, the fourth month of the new SYRIZA-led government’s term, and the result of the so-called “negotiations” with the Troika is zero! The position taken by the so-called “European partners” is not only unacceptable, but it’s also malicious ...

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Deaths in Lampadusa: “Systematic Slaughter”

By Kevin Henry The recent deaths of more than 800 people who drowned when a small fishing boat capsized near the Italian island of Lampedusa shocked people across Europe. This brings the death toll of immigrants from north Africa attempting to reach Europe by boat in 2015 alone to 1,600. Last year, around 170,000 migrants crossed the Mediterranean to get ...

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Why you should be a socialist

The following article was written by members of Socialist Alternative, the sister organisation of the Socialist Party in the US. We have been to the forefront in the struggle for the fight $15 an hour and in November 2013 SA member Kshama Sawant was elected as council member in Seattle receiving 95,000 votes. 1. We are helping lead the fight back ...

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