Strive to make a great advance in the People's War for New Democracy
Central CommitteeCommunist Party of the Philippines
December 26, 2009
The current economic and financial crisis of the world capitalist system has been the outcome of the recurrent, accelerated and cumulative crises since the monopoly bourgeoisie and its economic policymakers were confronted by the phenomenon of concurrent stagnation and inflation as a result of the reconstruction of the imperialist countries ruined by World War II, intensified inter-imperialist competition, rising costs of the cold war and wars of aggression and the growing severity of the crisis of overproduction in the world capitalist system.Since then, the imperialist states headed by the US have blamed the working people for having caused the stagflation due to what they have termed as wage inflation and excessive social spending by government. At the same time, they have obscured the costs of the Cold War, especially those of military production, overseas deployment of military forces and wars of aggression.In the succeeding decades, they adopted and implemented the policy of freezing wages, reducing social spending, privatizing public assets, liberalizing investments and trade, doing away with regulations and denationalizing the economies of underdeveloped countries. They let loose the unbridled greed of the imperialist banks and firms to prey on the people of the world. Thus, they undercut and constrict the global market far beyond what debt financing can cover and conceal.Having run for several decades, the policy of "neoliberal" or "free" market globalization is deepgoing and has caused widespread social ruin on a global scale. It continues to dominate the thinking of policymakers of the imperialist states. It serves first of all the big banks and corporations against the demand of the people for economic recovery, employment, social relief and rehabilitation. Thus, the current grave crisis of the world capitalist system continues to worsen and is bound to persist for a long while.The monopoly bourgeoisie seeks to pass on the burden of the crisis to the working people in the homegrounds of imperialism but much more to those in the underdeveloped countries. The imperialist powers and their puppets continue to extract further superprofits from those already laid low by the crisis. We therefore witness today the initial manifestations of the peoples' resistance in both the imperialist and the underdeveloped countries.In the imperialist countries, the monopoly bourgeoisie wages a ferocious class struggle against the proletariat and is pushing the proletariat to fight back by waging the just side of the class struggle. It seeks ever more to divide and confuse the working people by whipping up anti-terrorist hysteria, chauvinism, racism, fascism and religious bigotry and pitting the host people against the migrants. However, revolutionary parties and movements are arising to expose the roots of the crisis in monopoly capitalism and rouse the working people to wage class struggle.The peoples subjected to ever rising levels of exploitation and oppression are waging various forms of resistance against the imperialist powers and their local puppets. Those who are victimized by imperialist aggression are waging armed resistance for national liberation, as in Iraq, Afghanistan, Pakistan, Palestine and Lebanon. National liberation movements led by Maoist and other revolutionary parties are gaining strength and are advancing as in India, the Philippines, Nepal, Turkey, Peru and Colombia.Some governments as those of North Korea, Cuba, Venezuela and Bolivia have taken anti-imperialist positions and invoked national independence in response to the clamor of the people for resistance to imperialism and its worst reactionary agents. Such governments as those of China and Russia try to collaborate with the US-led alliance of imperialist powers while at same time cooperate with Iran and other governments that are subjected to sanctions and embargoes by the US and its imperialist allies.The imperialist powers are still united in oppressing peoples and nations of the world and in passing on the burden of crisis to them. But they are also driven by imperialist greed and by the crisis to compete and contend with each other in a struggle to redivide the world for sources of raw materials and cheap labor, markets, fields of investment, spheres of influence and strategic points of control.The complete restoration of capitalism in countries previously ruled by revisionist regimes has added Russia and China to the ranks of big capitalist powers and has made the world ever more cramped for inter-imperialist competition. The US has pushed the NATO to expand to the borders of Russia and threaten and seek control of this huge source of oil, gas and other strategic raw materials. Although China is acknowledged as the biggest partner of the US under the policy of "free market" globalization, contradictions between them over major issues are growing.