Financial Crisis

41 million jobs lost in China

Mass job destruction as result of crisis - 40 percent of global sackings occured in China Source: chinaworker.info 9 September 2009

English workers keep up fight to save ‘green’ jobs

By Martha Grevatt Source: Workers World Online. 3 September 2009. “They’d made an announcement ... that we were going to have our jobs for years to come. So people went out and got mortgages and cars and all that. ... Then they came and said it’s not happening. They turned around and said, ‘Actually, we’re sacking you all.’ It was a big shock.” (savevestas.wordpress.com) These could be the voices of autoworkers in Detroit, St. Louis or even at this writer’s plant in Twinsburg, Ohio. They could have been working in steel or any other “dying industry”—one so-defined by those who are killing the jobs of workers considered expendable.

China: End of a Model -- Or the Birth of a New One?

By Au Loong Yu (Author’s note: This article was first published in the summer issue 2009 of the US journal New Politics. This slightly revised version corrected two translation mistakes and a minor error in the footnotes. September 3, 2009.) China’s thirty years of nearly uninterrupted high growth has encountered great challenge as global economic crisis has hit China’s export hard. Since China’s trade as a percentage of GDP is as high as 70%, the export-led growth mode has practically ended. The Chinese Communist Party (CCP) is aware of this. Back in April 2008 President Hu Jintao spoke of the need to change the mode of development from export-led growth to domestic-led growth by expanding domestic demand. In November the 4 trillion RMB of rescue package followed. The economy is slowing down, and the target of the rescue package at “Baoba,” or keeping the growth rate at 8 percent, is hard to achieve. Nevertheless, with a slower growth rate of 5-6 percent, which most commentators are speculating, is still outstanding when the US and EU are sinking further into deep recession. The global downturn on one hand and China’s relative strength in containing the crisis on the other makes the topic “the rise of China” more heated than ever.

Strike Wave Sweeps Serbia

By Vesna Peric Zimonjic BELGRADE, Aug 28 (IPS) - A very hot summer of workers' discontent has taken over Serbia. Some 33,000 people go on strike daily in 40 to 45 firms, according to union statistics. They are mostly employees of privatised companies who have not been paid salaries or social and health security benefits for months now.

US: Detroit workers resist budget cuts & layoffs

Community group says pay workers, not banks By Abayomi Azikiwe (Editor, Pan-African News Wire, Detroit) Source: Workers' World. Aug 26, 2009 Hundreds of city employees and community residents gathered Aug. 19 outside City Hall here to protest budget cuts. Newly elected interim Mayor Dave Bing has already placed over 300 workers on indefinite layoff and is preparing the public for the idling of another 1,000 employees in an effort to close a $350-million deficit. Detroit city workers tell City Hall: ‘Hands off our jobs!’

California autoworkers fight to save jobs

By Joan MarquardtFremont, Calif.Source: Workers' World. Aug 31, 2009 Several hundred rank-and-file United Auto Workers, family members, union leaders and a handful of local and state elected officials, community and business people rallied Aug. 20 outside the UAW Local 2244 hall here.

(Written in Chinese only)

(Written in Chinese only)

A Bottom-Up Democracy

By Boris Kagarlitsky Source: The Moscow Times, 9 June 2009 It had to happen sooner or later. The first bill on nationalization has been submitted to the State Duma. That such a bill would appear in Russia only after similar legislation was introduced in Britain and the United States might seem paradoxical, at least at first glance. After all, Moscow officials would rather die than be accused of an attempt to revive communism. This is especially true of senior government officials in the "economic bloc" whose job is to please investors. In recent years, the less liberal Moscow's political regime has become, the more effort officials have had to make to demonstrate Russia's supposed adherence to economic liberalism.

In Russia, a Recession-Plagued Town Revolts

By John Wendle / Pikalyovo Source: TIME magazine. Thursday, Jun. 11, 2009 After waiting half an hour in a line of 20 people at the dusty ATM, Eduard Markov finally walks away with his old leather wallet bulging with rubles. Like thousands of others in the northern Russian industrial town of Pikalyovo, the 44-year-old clay-quarry worker had not been paid in three months. But now he at least has enough to buy the basics — meat, vodka, noodles, oil and fruit — from shops that just a few days ago were empty of customers.

Still no recovery in sight for workers

By Fred GoldsteinSource: Workers World. Jul 3, 2009
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