«Untenable hegemony»

Translated "Avante!"article by Luís Carapinha, Member of the International Department

A recent report released by the international finance institute, in Washington, launches an alert the global debt achieved a 243 billion dollars record, in 2018, three times more than the global gdp. The debt weight increase versus the gdp is specially relevant among the main capitalist powers and worsened upon the world capitalist crisis, a decade ago, with the millionaire amounts injection, in order to wipe out the private banking toxic waste.

Not surprisingly, the USA holds the central role in the finance arrangement and the debt escalade. Since 2000, its indebtedness triplicated and almost 30 per cent of industry employment was eliminated. the great world economy public debt component surpassed 22 billion dollars for the first time and ought to carry on to increase in the following years, probably reaching the 140 per cent of the gdp, in 2024, in an untenable dynamics. the public debt standard became accelerated specially with trump’s arrival to the white house, in result of, among other aspects, the gigantic tax cut, mainlyin benefit of the great capital pyramide top and astronomic increase of the military budget. The strong endebtment increase, specially coming from the companies, is pointed out as one of the major factors of the expected next international financial crisis unleash. And which effects, regarding the current dynamics, ought to be more devastating than the 2007 9 world capitalist crisis.

A ria-novosti news agency release reporting bloomberg analysis, underlines that there ought to be mass poverty and a strong geopolitic instability, agitation and wars.

This is the point of the capitalism crisis where one stands. A situation inseparable from the USA economic unipolarity and global hegemony along with the tempestuous attempts of the great imperialist power to revert a stagnation trajectory and a more and more visible decline. There comes a warning from the establishment core, by the foreign affairs editor, published by the tutelary foreign affairs counsel. The USA hard power is in relative decline and the soft power has suffered an enormous blow. The current magazine number is symptomatic, seeking for a strategy. This is one of the major reasons of growing instability and incertitude that marks the international situation positions the vortex that threatens the USA’s economy and dominant position, amid the capitalism structural crisis core. This is imperialism strategy expansion backstage and trump’s offensive in all directions, reaction growth and neofascism, a framework that holds, particularly, china’s emergence and the world fracturing forces rearrangement, in which the tectonic shock develops in the economy visceral level. Therefore china’s doctrine consideration, by the USA dominant class, as the great existential threat and the exponential elevation of provoking measures targeting its contention and destabilization, in spite of the trade and economic relation density.

A time of instigating contradictions, in which the alternative to catastrophe is the struggle towards work elevation, social emancipation and socialism.

  • Articles and Interviews
  • Chronic International