China

In August, the expected yield for ten-year Treasury notes fell below the yield for two-year notes for the first time since 2007, with the 30-year bond yield also reaching a new low. The “yield curve” tracks the yield to investors who purchase shares in government debt to be paid back over various time horizons. The national debt accrues as the US Treasury sells Treasury securities in exchange for cash used to finance the government.

China’s National Day, which marks the anniversary of Mao’s proclamation of the People’s Republic of China on 1 October, is always full of pageantry and displays of military strength. But for the 70th anniversary, Xi Jinping pulled out all the stops. The military parade was China’s biggest ever, with new, supersonic unmanned drones and nuclear missiles proudly on display. The message was loud and clear: as Xi himself said, “no force can shake the status of this great nation”.

The Sunday 8 September protest threatens to lead the movement in Hong Kong in a reactionary, openly pro-US imperialist direction. This is extremely dangerous for the movement and must be firmly and unequivocally rejected.

The mass movement in Hong Kong has just won its key demand – the withdrawal of the hated extradition bill that would allow anyone the Beijing government suspects of criminality to be extradited to the mainland. But none of the other four demands, such as for an independent investigation into police brutality, have been won.

Stock markets have experienced a roller-coaster ride over the past two months, as Trump’s erratic trade policy has brought the world economy to the brink of recession. In the latest move, Trump yet again partially postponed the introduction of new tariffs, which he announced two weeks ago. This temporary reprieve will do little to solve the conflict.

Hong Kong’s earthshaking protest movement is entering its second month. Despite increasing pressure from Beijing and the Carrie Lam government, the movement still grows in militancy. It is graduating from bourgeois liberal methods towards the method of class struggle. In many ways, when Carrie Lam emerged from days of obscurity to respond to the general strike, she was right to say that the Hong Kong movement is heading towards a “path of no return.”

Hong Kong’s mass movement against the Chinese state’s attempt to control the territory has been spurred forward by the whip of counterrevolution. On Sunday 21 July, as protestors returned home from demonstrating, around 50 thugs dressed in all-white burst onto a subway train and indiscriminately attacked passengers with poles and other blunt objects. Although the attackers were anonymous and the assault appeared arbitrary, the message was received loud and clear – as was the intention: do not dare challenge the Hong Kong government and its masters in Beijing.

On 16 June, only a week after the last, million-strong march that took place in Hong Kong, a second mass protest occurred. According to the leading organisers of the Civil Human Rights Front, as many as two million people joined the march yesterday. Judging from the images and figures available, as well as what I’ve seen, it is entirely credible that this protest is larger than that of the previous Sunday.

Today, hundreds of thousands of Hong Kongers marched in militant defiance of the ‘extradition bill’ that would grant China the power to take anyone in Hong Kong into custody on the mainland. Only three days earlier, Sunday 9 June, saw what may be the biggest demonstration in Hong Kong’s history. According to organisers, one million marched through the city’s humid streets, meaning one-in-seven Hong Kongers demonstrated!

We are publishing the text of a leaflet produced by a sympathiser of the IMT in Taiwan and aimed at the students there, which explains what the Tiananmen movement in 1989 was about, how it was destroyed and what workers and students in both China and Taiwan should be working towards today.

Thirty years ago, the world’s largest-ever student movement was brought to a violent close by the so-called People’s Liberation Army. For about six weeks, hundreds of thousands, and at one point over a million, students, workers, Communist Party members and Beijing residents had flooded into and occupied Tiananmen Square, the same place from which forty years earlier Mao had proclaimed the founding of the People’s Republic of China.

"When China wakes up, she will shake the world." This famous prediction of Napoleon has been confirmed by history. Particularly in the last 20 years, China has become an economic power of primary importance that objectively threatens the world leadership of the United States.

In the aftermath of recent elections in Cameroon, instability has increased, with a factional struggle opening up between different sections of the ruling class. President Paul Biya of the ruling CPDM, who retained power in 2018, has ramped up political repression, arresting opposition leader Maurice Kamto and intensifying his suppression of the country’s Anglophone minority.

馬克思主義者們認同1949年中國革命所帶來的各種重大成就。這也毫不意外地讓毛澤東所喊出的一些口號在世界各地產生共鳴,並吸引了尤其在中蘇交惡後,尋求官僚化蘇聯以外社會主義體制的革命志士們。然而,所謂的毛澤東思想仍然和真正的馬克思主義之間存在著必須要澄清的重要政治分歧。

马克思主义者们认同1949年中国革命所带来的各种重大成就。这毫不意外地让毛泽东所喊出的一些口号在世界各地产生共鸣,并吸引了尤其在中苏交恶后,寻求官僚化苏联以外社会主义体制的革命志士们。然而,所谓的毛泽东思想仍然和真正的马克思主义之间存在着必须要澄清的重要政治分歧。

On 11 December 2018, the official Weibo account of the US Embassy in China published a blog post entitled “American University Marxist Students Show Solidarity for Unionization and Strikes” (美国大学生马克思主义社团声援工人组织工会和罢工). In it, the embassy referred to the activities of the International Marxist Tendency (IMT) comrades in the Marxist Student Association (MSA) and their political work in Madison, Wisconsin.

Marxists recognise the enormous achievements of the 1949 Chinese Revolution. Unsurprisingly, many slogans by Mao Zedong found an echo across the world as an alternative to the bureaucratised USSR after the Sino-Soviet split. However, there are significant political differences between the ideas of genuine Marxism and those of Maoism, which should be clarified.

(譯者按:本文是國際馬克思主義趨勢(IMT)在中國共產黨召開第十九次全國代表大會後,於2017年11月30日發表的評論。文中討論了關於中國經濟性質從斯大林主義計劃經濟轉變為朝向帝國主義發展的資本主義系統,並在這個基礎上解釋了習近平的強權。編譯團隊決定不更動發表時的原文,以便讀者們比較我們當時的預測和後來的發展。)

(译者按:本文是国际马克思主义趋势(IMT)在中国共产党召开第十九次全国代表大会后,于2017年11月30日发表的评论。文中讨论了关于中国经济性质从斯大林主义计划经济转变为朝向帝国主义发展的资本主义系统,并在这个基础上解释了习近平的强权。编译团队决定不更动发表时的原文,以便读者们比较我们当时的预测和后来的发展。)