General strike against austerity in Portugal, November 24, 2010.

By Raphie de Santos

January 4, 2011 -- Socialist Resistance -- A full financial bailout of Portugal involving the European Central Bank (ECB) and the International Monetary Fund (IMF) looks set to happen in the first half of 2011. This will involve severe austerity conditions being imposed on the Portuguese people by the ECB and IMF.

The indications are clearly there as at the end of 2010 Fitch joined the two other credit rating agencies to downgrade Portugal’s debt to A+, which is just above junk status. They are concerned that the current account deficit running at 9% is unsustainable with the ruling Socialist Party unable to impose the effective 4% budget cuts in 2011 that they outlined at the end of 2010.

A trader in Lijang, China, selling images of Karl Marx. Photo by Malias.

By Norman Levine

January 4, 2010 -- Links International Journal of Socialist Renewal -- Organised by Marcello Musto of York University (Toronto, Canada), an international delegation of scholars from Canada (Marcello Musto and George Comninel), USA (Norman Levine), England (Terrell Carver), Japan (Hiroshi Uchida and Kenji Mori) and South Korea (Seongjin Jeong) participated in a two-week series of colloquiums and lectures in China. This delegation was invited and graciously hosted by Fudan University of Shanghai and Nanjing University (two of the top five universities in China), and by the Chinese Academy of Social Sciences (CASS) and the Chinese Central Compilation and Translation Bureau (CCTB) of Beijing. The faculties and administration of each of these institutions partnered in these colloquiums, which also saw the participation of Chinese academics from 23 different universities (and, among them, of many deans and chairs of departments).

France, 2010: 'Karl Marx is not dead.'

Claudia Lopez, an intern, with outpatients at 5 de Septiembre Polyclinic, Havana. Photo by Gail Reed/World Health Organisation.

By Eric Toussaint, translated by Christine Pagnoulle in collaboration with Judith Harris

January 3, 2011 -- CADTM -- For a decade, Ireland was heralded by the most ardent partisans of neoliberal capitalism as a model to be imitated. The "Celtic Tiger" had a higher growth rate than the European average. Tax rates on companies had been reduced to 12.5% |1| and the rate actually paid by the transnational corporations that had set up business there was between 3 and 4% -- a CEO’s dream!

By Martin Hart-Landsberg

December 31, 2010 -- Reports from the Economic Front -- What’s happening on the Korean peninsula? If you read the press or listen to the talking heads, your best guess would be that an insane North Korean regime is willing to risk war to manage its own internal political tensions. This conclusion would be hard to avoid because the media rarely provide any historical context or alternative explanations for North Korean actions.

For example, much has been said about the March 2010 (alleged) North Korean torpedo attack on the Cheonan (a South Korean naval vessel) near Baengnyeong Island, and the November 2010 North Korean artillery attack on Yeonpyeong Island (which houses a South Korean military base).

The conventional wisdom is that both attacks were motivated by North Korean elite efforts to smooth the leadership transition underway in their country. The take away: North Korea is an out-of-control country, definitely not to be trusted or engaged in negotiations.

But is that an adequate explanation for these events? Before examining the facts surrounding them, let’s introduce a bit of history. Take a look at the map below, which includes both Baengnyeong and Yeonpyeong Islands.

Review by Chris Slee

The Rise of China and the Demise of the Capitalist World Economy
By Minqi Li
Monthly Review Press, New York, 2008

January 4, 2011 – Links International Journal of Socialist Renewal -- Minqi Li’s The Rise of China and the Demise of the Capitalist World Economy deals with a range of topics including the history of the Chinese Revolution, China's role in the world economy today and the future of the world economy. This review will not deal with every aspect of the book, but will focus on Minqi Li's discussion of China's history, economics and politics, and its current role in the world.

What real democracy looks like: a communal council in Merida votes for its electoral commission in July 2010. Photo by Tamara Pearson.

Wikileaks founder Julian Assange was released on bail in Britain on December 16, 2010. It is almost a certainty that the editor of Wikileaks will be turned over to the United States if he is extradited to Sweden.

By Al Burke

December 28, 2010 -- Links International Journal of Socialist Renewal/Nordic News Network -- Sweden has requested the extradition of Wikileaks editor Julian Assange from the United Kingdom, and legal proceedings are expected to commence at the start of the new year. Due to the extraordinary behaviour of the prosecutor in charge of the case, questions have been raised about the prospects of Assange receiving impartial justice in Sweden.[1]

By Fred Magdoff

``It is inconceivable that capitalism itself will lead directly to an ecological civilization that provides the basic needs for all people. However, building an ecological civilization that is socially just will not automatically happen in post-capitalist societies. It will occur only through the concerted action and constant vigilance of an engaged population.''

January 2011 -- Monthly Review -- Given the overwhelming harm being done to the world’s environment and to its people, it is essential today to consider how we might organize a truly ecological civilization—one that exists in harmony with natural systems—instead of trying to overwhelm and dominate nature. This is not just an ethical issue; it is essential for our survival as a species and the survival of many other species that we reverse the degradation of the earth’s life support systems that once provided dependable climate, clean air, clean water (fresh and ocean), bountiful oceans, and healthy and productive soils.

By Boy Lüthje