On Economic Crises under Imperialism

Communist Party of India (Maoist)

March 28, 2024

We convey our thanks and revolutionary greetings for inviting our party as the main speaker in the ‘International Theoretical Conference – 2 on ‘Economic Crises under imperialism’ being held by NDFP in Amsterdam in Netherlands on 30-31 March 2024. We send this paper on behalf of our party.

We are holding this theoretical conference with the objective for a further deep and comprehensive understanding about the economic financial and environment crises in capitalist-imperialist system and the severe, manifold effects on the socio-political cultural spheres. Imperialism is bogged down in economic crises that cannot be solved unless through war in the present world. In this situation major imperialist countries are making unprecedented preparations for war. Apart from the trade and currency wars, re-alignments of IMF, WB, APEC, AFTA, BRICS, SCO and IFI established by them are going on in speedy manner. These are racing towards World War III. On this occasion this conference has special importance, to advance anti-imperialist struggle and the International Communist Movement with the objective of burying imperialism and establishing socialism and to achieve a common opinion among the Maoist parties and organisations in the international plane towards the imperialist economic order.

In capitalism, “…capitalism itself is the origin and reason for economic crises. The contradiction between the social nature of production and the capitalist ownership of products is the origin of crisis” said great Marxist teacher Comrade Stalin. The fundamental contradiction in capitalism makes economic crises inevitable. This is the natural result of capitalist economic development. Economic crises are clear manifestations regarding intensification of various contradictions in capitalist production, transaction, distribution and re-production. Over production is the nature of economic crisis. The most prominent features of these – accumulation of unsaleable goods in a big way, closer of factories, dissolution of banks, declining share values, speedy growth of unemployed, severe devastation of productive forces, stagnation of entire economy and spread of anarchy all over the economy. Economic crises continue to break as long as capitalism exists. We need to destroy capitalism to see there are no crises. Let us start from this fundamental understanding to analyse the present crises in imperialist economy.

Theory of free market proposed by British economist Adam Smith in 1776 and developed by Malthus, David Ricardo and other such economists of traditional economic ideology in the first half of 19^th century reflected the developing bourgeois ideology. In this stage, capitalist production units were normally small. Few capitalists declined in the capitalist crises that definitely broke once in 5-10 years. The rest of the capitalists who overcame each crisis invested in big way in continue production. During this period the industrial capitalism that started in Britain and Belgium gradually spread to United states of America (USA), France, Germany, Scandinavian (Sweden, Norway, Denmark etc.) countries opened doors to capitalist trade all over the world.

There is only one way left for the capitalists to sustain in the intense capitalist contention. That is, to accumulate largest scale investment, achieving high technical knowledge, further raise the efficiency of production and make production cost cheaper, as the founder of Marxism, Comrade Marx said one of the primary contradictions in capitalism is involved in this. The growth rate of the investment to be invested is more than the growth rate of labour force that rises at the same time. This is the contradiction. It means organic composition of capital is growing more than the efficiency of labour force. Labour force is the base for profits. Therefore, rate of profit falls. This in turn not only weakens investment but also leads to crises an unemployment to gain investments of capitals. Capitalism is based on “production for profits”. Therefore ‘declining profit rate’ is the origin for economic crises in capitalism.

Three ways to fight declining profit rate – Due to regular crises few investments declined and gained profit to others; “…it has the effect of rendering possible technical improvements, and, consequently, the acquisition of super profits over and above those”; to divert investment from existing areas to backward areas where there is relatively cheap labour force, market that guarantees relatively super profits and where natural resources are relatively cheap, through imperialist policy; to divert surplus values that is investments accumulated in non-productive sectors such as manufacture of Arms, goods for luxury in life and advertisement.

Capitalism – Imperialist stage – General Crises

After the crisis in 1870s, industrial sectors were rebuilt in a large scale under the relatively big industrial enterprises in America and Germany. Centralisation of capital further rose in a big way and big production enterprises were established accordingly. In this way, the crisis in 1870s led to large scale concentration of capital in a large way and thus to the formation of trusts, cartels, syndicates and other such monopoly enterprises. By the end of 19^th century and the beginning of the 20^th century, accumulation and concentration of capital grew in a great way and the free competitive capitalism transformed into monopoly/imperialism. Rock feller, Ford, Morgan and other such giant exploiters in America purchased contending enterprises at dead cheap rate during the period of crises and gained hegemony in US economy. Thus, concentration of capital led to the formation of big national monopoly enterprises in every capitalist country.

Due to limited market in the country the falling profit rates and due to declining profit rates, the surplus value (investments) accumulated in big way, crossed the borders of the country and searched for ways in foreign countries to overcome the crisis of 1870. As the great Marxist teacher Comrade Lenin said in ‘Imperialism, The Highest stage of capitalism’ “…that the struggle for the territorial division of the world becomes extraordinarily keen.…”. the tremendous ‘boom’ in colonial conquests begins mainly in 1870s, “…capitalism’s transition to the stage of monopoly capitalism, to finance capital, is connected with the intensification of the struggle for the partition of the world…”.

During the stage of monopoly capitalism, export of capital to semifeudal and semi-colonial countries took place in a very speedy manner. Britain could withstand the tendency of decline of profits due to the tendency of increase of organic composition capital. The opportunities to invest capital in the foreign countries in a beneficial manner is the reason for the difference in Britain on contrary to what happened in US and Germany. Over production crises and decline in profit rate led monopoly investments of America and Germany in direct contention against the already stabilized monopoly investment of Britain and France. The entire world was geographically divided among the imperialists by 1913 as the part of contention for foreign markets to sell their goods, for areas of raw material and for areas necessary for their exports of finance capital. However, by the beginning of 20^th century the entire world fell in severe crisis. All imperialist countries suffered from it and for profits of capital and declining profit rate, lack of areas for cheap raw material and lack of markets. All these together made the various imperialists contend with each other that led to World War I in 1914–18. World War I was the ‘reward’ given to the world by monopoly capitalism that didn’t have any other way except for imperialist expansion to solve its internal contradiction.

With the emergence of imperialism, the periodical crisis in capitalism took the form of general crisis and ripened the objective situation for social revolution. Total permanent unemployment, inflation, being in the mire of a situation where it cannot totally utilise efficiency of production; continued heavy devastation of productive forces through world wars, regional and local wars; destruction of surplus goods while lakhs of people are suffering from poverty – all these are features of general crisis in imperialism.

The general crises in capitalism brought all the contradictions in the society – the contradiction between capital and labour, the contradiction between oppressed nationalities and imperialism and the contradiction between various imperialist forces and among monopoly, imperialist groups – brought to an explosive state. The conflict between productive forces and production relations took an explosive form since imperialism came to exist and led to Fascism, World Wars and social revolutions. These shall continue until the final success of World Socialist revolution.

Taking chance of the destruction in World War II, US economy that developed through war helped European economies that were totally shattered in World War. Imperialists started to implement rationalisation programme after World War I. This means the process of creating large number of unemployed by introducing further efficient machinery in the sector. Within a few years the response of capitalists to over production enhanced the intensity of exploitation on the working class through methods like Taylorism. This further increased over production crises. “another method that capitalism on death bed followed was, instead of further increasing amount of surplus value, spending such has to seize most of the share of the surplus value”.

The over production crisis further intensified and led to the industrial crises (Great Depression) in 1929-1930. Industrialists, Banks and every one raced for loans. Demand for the limited investments led to unprecedented rise in interest. The effect of this crisis in US immediately reflected in Europe that is dependent on loans from US. When US withdrew investments, German industrialists were left astray. Hundreds of US and European banks that lent to industries and speculation became bankrupt. The respective governments reduced its expenditure with the intention to reduce pressure on these banks. This reduced demand for goods and increased crises in the industries. Thus, these crises could not help single sector of the economy from the effect of crises. These crises hit all the industrial countries at time. So, there was no demand not only for the industries of those countries but also agricultural products of backward countries. The resulting agrarian crises pushed the entire people of agricultural countries into poverty and hunger deaths.

Due to the helplessness of monopoly capitalism in overcoming the crises in 1930 on its own, since 1932 the government had to actively interfere. Imperialists feared a wave of proletarian revolutions. Therefore, the ruling classes of imperialist countries actively got down to solve the crises. Constant restructuring of the industrial sectors, attempt to reduce over-production crises began. The government took up the responsibility to constantly arranged surplus value for monopoly investment at any cost. It mainly spent large amount on production of arms, raised profits and bailed out the economy from the crises. The government acted as owners providing jobs and as market and helped for development through permanent war economy. Keynesian theory stressed that the government must spend large amount through deficit budget so as to totally solve the problem of unemployment. This became a new ideology for ruling classes in crises after 1930. This continued up to the decade of 1970s. It is clear that the new deal is the new objective practical result and that capitalism cannot overcome its problems without the interference of the government in the stage of monopoly capitalism. It is because, in this, the governments and investments together exploit the people. The policy was copied from Communism and is being used as a weapon against the people. Communist forces utilise government funds for genuine people’s welfare. That is the reason this new deal policy could not raise industrial production to the earlier stage.

General crises of capitalism went through three stages in the stage of imperialism

The first stage of the General crisis of capitalism began with World War I and lasted till 1923. The weakening of the various imperialist powers as a result of the war had created an intense revolutionary crisis throughout the world. This was effectively utilised only in Russia by the Bolsheviks. But the failure of the working class in other countries to seize power due to the betrayal by the Social Democrats led to a temporary stabilisation in the world capitalist system from 1923 to 1929. But even the economic expansion of this six-year period was accompanied by under-utilisation in spite of absolute increase in industrial output. The stabilisation and boom were only temporary and they soon got bogged down into a more serious crisis in 1929 that could only be resolved through fascism and war.

The second stage of the general crisis of capitalism began with the Second World War and continued for a few years after war, due to the massive devastation of the economies of the major imperialist powers (barring the US) during the war. East Europe, China, North Vietnam and North Korea became liberated from the yoke of capital utilizing the crisis. The most important economic consequence of the World War is the large-scale destruction of imperialist economy and world economy. Thus, the second stage of general crisis ended by mid-1950.

By mid-1950s imperialist countries of West Europe overcame the problem of capital or the shortages of capital and stabilised themselves with the help of US imperialism, which emerged as the undisputed leader of all the major imperialist forces and the imperialist camp. By the beginning of 1970s, their economies began to expand very rapidly for nearly two decades. In 1955-’73, the world capitalist system gained economically temporary stability. Since 1973 until date, the capitalist-imperialist economy is continuing with long-drawn inflation and crisis. This is the third stage of imperialist general crisis.

The following political events led to the partial stabilisation of world capitalism in the mid-1950s:

• Restoration of capitalism in all socialist countries excluding China and Albania, particularly the restoration of capitalism in Russia, and the derailment and betrayal of the Communist movements by the revisionist leadership of the communist parties in several countries.
• Open betrayal of the anti-imperialist movements and national liberation struggles by the comprador bourgeoisie and feudal classes subservient to imperialism in several colonial and semi-colonial countries.
• Defeat of the revolutionary struggles in capitalist countries as a result of the betrayal by the variousrevisionist parties.
• Emergence of the US imperialists as the most powerful imperialist country at the cost of the adversaries as well as allied imperialist countries.

This long post-war expansion of the world economy was based on a number of special factors such as:

• The rebuilding of the war-ravaged economies of West Europe and Japan by the US-led imperialism to erect as a bulwark against socialism.
• Major regional wars in Korea and Indo-China and scores of local wars which generated a continuous demand for arms and other industrial goods and machinery from the imperialists.
• The emergence of peace-time permanent arms economies.
• US became a super-power and unleashed neo-colonial exploitive policies through the export of imperialist finance capital. The expansion of new markets in the Third World through the export of imperialist finance capital and also to reorient the semifeudal relations to some extent in various countries.
• Rapid development of technology both in old industries and creation of new industries that led to rapid increase in productivity.
• Formulation and implementation of the Breton-Woods institution such as IMF, WB, UNO; dollar being made common currency; the initiation of GATT discussions and its conclusion to the formation of WTO
• And, the most important of all, state intervention in the economies both as buyer and consumer and enormous credit expansion in all sectors.

All these aspects that contributed to the expansion of the economy in the early 1970s reached a saturation point and it entered into a long period of stagnation since 1973.

Imperialism fell into the third mire of long-drawn general crisis since 1973

With the falling profit rate in the imperialist economy, this crisis emerged as the third long crisis since 1973 that broke the illusions that the world economy is constantly expanding. The crisis came forth in the backdrop of the devastating defeat suffered by the US imperialists in the heroic national liberation war of the Vietnamese and other Indo-Chinese people and the emergence of the erstwhile Soviet social imperialism as a rival superpower for the redivision of the world.

Thus, the annual growth rate of the US dropped to 2.6 percent from 4 percent from 1973-1989 than the earlier time of expansion, that of Western Europe from 4.7 percent to 2.2% and of Japan from 9.6 percent to 3.9 percent. Long-term decline in the average rate of profit in all imperialist countries, mass unemployment and inflation (or rather stagflation as the historically new post World War-II phenomenon was being called), and excess capacity in industries marked the capitalist economies in the period after 1973. Thus, by mid-1970s, the world capitalist system fell in the mire of the third long drawn general crisis. On the whole, crisis in world capitalism is permanent and absolute and recovery is temporary and relative. The nature of the general crisis of capitalism that looms all over the world is like this.

In the second half of 1980s and in the 1990s, in order to sustain the falling profit rate and to further development the following three reasons led to structural changes in imperialism and imperialist globalisation –

1. The need to relocate production to dead cheap wage areas by the giant TNCs and MNCs thereby also leading to the reduction of the wages and unemployment in the capitalist countries.
2. The need to shift imperialist short-term speculative capital freely from one corner of the globe to another in search of maximum returns in the shortest possible time.
3. The need to ensure re-payment of the debts incurred by the oppressed countries to the transnational banks and the imperialist governments, required that a world without borders be created for the free flow of capital, goods, services and labour across all countries without any restrictions whatsoever on the part of the countries of Asia, Africa and Latin America and to any part of the world. This is the meaning of imperialist globalisation, liberalisation and privatisation. And it is in order to achieve this objective that structural adjustment programmes were brought forth and began to be imposed on many countries of Asia, Africa and Latin America after the mid-1980s and even more countries during the 1990s. At the same time, the imperialist countries resort to protectionism through tariffs on the commodities from backward countries in a big way along with massive subsidies to products of their countries thus exposing their double standards.

The crisis pushed the world capital to reconstruct world economy towards non-productive, speculation sectors. The concept of welfare state brought forth in the name of solving the contradictions, crisis characteristic to capitalism utterly failed. The imperialist economic policies or the monetarist theory brought forth De-regulation, Delicensing, Disinvestment and Deindustrialization (D4) from mid-1970s in the veil of neo-colonialism as a solution to this crisis became the guideline for international capital. Imperialists implemented these gradually as globalization, privatization and liberalization policies since mid-1980s and took up a new offensive on the people of the world.

Imperialist foundations and thinktanks such as Ford foundation, Rockefeller foundation, Mont Pellerin society, centre for international private enterprise worked as important motive forces for the spread of neoliberal ideas. Freedman Milton, Arnold Herberger and other such bourgeois economists stood in the forefront. Students of economy who went to US for study from Latin America, Asia and Africa were injected neoliberal theory and made to become ‘Chicago boys’. Intelligence, security organisation and MNC and TNC directorates of the various countries of the world are filled with these boys. These boys turned to be the Prime Ministers, Finance Ministers, Economists, World Bank officers and corporate lawyers and opened the door for MNCs and TNC. They are imposing the policies of imperialist globalisation in the name of neoliberal policies. The policies gained much strength when Milton Freidman won the Nobel prize. Imperialist finance capital stated to control state machinery. State facilitated imperialist financial capital through direct and indirect violence in the people especially of the working class.

In order to bring un-fettered and un-regulated network for investment and realisation of capital, to guarantee all the money meant for investment in all forms, productive capital and commodity capital following the Uruguay round and the formation of the WTO, control machineries were formed in the form of WTO. Thus, Trade Related Investment Measures (TRIMS), Trade Related Intellectual Property rights (TRIPS), General Agreement on Trade and Services (GATS), etc. are forced upon the oppressed countries to ensure free mobility of commodity capital, money capital and productive and speculative capital into all sectors. The intense trade wars between European economic community (EEC) and US was the main reason for the prolonged meetings of Uruguay round from 1986 until the formation of WTO, meant for free flow of goods and services through lifting of trade duties and subsidies.

When the imperialist globalisation policies being followed as a solution to the general crisis in capitalism- imperialism continuing since 1973 failed, it took shelter in racism, fascism and regional wars and brought forth the so- called 3^rd and 4^th industrial revolutions in economic sector.

The effect of so-called Third and Fourth Industrial Revolutions

In the third industrial revolution that had an utmost effect on the human race after the first two industrial revolutions, there were new inventions in science and technological sectors and electronics developed into a special science. There were revolutionary changes in the field of electronics with the development of semi-conductor technology. Since mid-20^th century, Computers, internet and digital technologies developed. Now starting from defence to home appliances every sector of the world is filled with electronics. Computers, mobiles, tablets and other such electronic implements became integral to every one’s life. Internet gained as special place.

The objective of Artificial Intelligence that developed into the fourth industrial revolution is to computerise everything without the need of humans. Various kinds of technologies are being developed with Artificial Intelligence. There are autonomous vehicles. Auto machines are seen in the field of IT with the aim to occupy the place of humans. Robotics is being developed in the field of manufacture. Drone technology is being developed in a big way to reduce losses and war expenditure of imperialist armies, opposition from the people, for information, navigation and to make surgical strikes. Social media, Analytics and Cloud (SMAC) technologies are wide spread. Big data Analytics are a part of it. Internet Of things (IOT) is meant for mutual communication and exchange of data. Large scale production based on small and big electrics and electronics are being made. We see 3D printing is developing. This is also called Additive manufacturing. Factories and workers are not needed to produce a good. Vertical agriculture is being developed. This comprises agricultural farms in multi-storeyed racks and giant ware house like buildings. Green technology meaning genetics, Robotics, Artificial Intelligence, Nano technology are being jointly used in Medicare. Mixed reality, black chain technology and deep tech are expanding.

The spectacular advances made in information technology due to the development of satellite communications has made it possible for the flow of capital across national borders in seconds as well as for subdividing the production processes into several small operations spread across several countries but controlled from a single centre. This became an important instrument in building developing and continuing of global production and supply chains.

The industries in backward/oppressed countries have been degraded to the level of world level industrial parts, the manufacture of each good was divided into several parts. The manufacturers of these spare parts exist in more than one country and finally were assembled in one place as a total commodity. This method of globalisation brought unprecedented changes in these economies. In this process, production chain, and supply chains were established all over the world after a view of the resources, cheap labour, favourable governments and acts. Finance capital didn’t invest with long drawn nature and instead, made agreements to easily enter and easily withdraw at any time and any place. This and the flow of finance capital became a worldwide trend. In the backward countries, investment, loan, aid and grant investing capital, if loans can’t be repaid, the loans being turned investments came to be a form of neo-colonial exploitation. Thus, thousands of MNCs – TNCs establish networks of global values chains according to the products and spread them to most of the countries and areas of the country. These establish its own branches, subsidiary companies and enterprises in all these countries. Especially these forms joint ventures with the comprador companies of the backward countries, or else, sub-contracted to those companies. Comprador companies manufactured goods only for exports. This method effected the organised strength of workers. This is a very important aspect of new economic policies.

These imperialist globalisation policies are in turn leading to severe economic crises. Of the four factors that seemed to buoy up the world capitalist economy, three— the high-tech and dotcom, the stock market, and the dollar build-up—have already taken a nosedive in the three years since 2000 and the real estate bubble is about to burst anytime. In fact, the bankruptcies that had come on the crest of the high-tech internet boom of the 1990s are mind- boggling— ITV Digital, World Crossing, Enron and now WorldCom. There was no recovery in the investment in trade. This led to over production crises mainly in the sectors of computer chips, steel, cars, clothes and chemicals. The variation in world production, i.e., the difference between the industrial production efficiency and consumption reached the maximum level after the decade of 1930. This led to over production crisis. Globalisation policies industries were restructured, production and assembly planes were shifted to foreign countries and other such measures were taken in every imperialist country. This led to severe unemployment.

Financial and economic crises

The stage of imperialist globalisation is the form of centralised capitalist international monopoly economic globalisation and financialization. In the 21th century imperialist economic globalisation and financial globalisation reached the peak. Concentration of capital, international and direct investment, monopoly in finance capital socialisation in production and distribution, internationalisation US dollar and hegemony of intellectual property created unequal international division of labour and trade globalisation that reached an unprecedented level and very strong giant Multi-National monopoly Corporations (MNCs) and Transnational Corporations (TNCs) emerged. These also controlled marketing networks, natural resources and financial resources. These will establish monopoly financial enterprises with the support of the state. Globalisation and financialisaton helped to increasingly consolidate monopoly finance capital to accumulate its wealth. A handful of finance enterprises control the important world economic veins.

Lenin said thus – “…because this is one of the most important distinguishing features of modern capitalist concentration. The big enterprises and the banks in particular, not only completely absorb the small ones, but also “annex” them, subordinate them, bring them into their “own” group of “concern” (to use the technical term) by acquiring “holdings” in their capital, by purchasing or exchanging shares by a system of credits, etc., etc’’. Lenin explained thus – “We see the rapid expansion of a close network of canals which cover the whole country, centralizing all capital and all revenues, transforming thousands and thousands, of scattered economic enterprises into a single national capitalist, and then into a world capitalist economy”.

Monopoly in finance capital is playing a decisive role in the life of world economy. It is creating economic financialization leading to distorted development. This brought forth finance monopoly group of centralised of capitalism in the hands of few very powerful persons. Money creates anything. It creates economic basis for power politics, obscene culture, threats of imperialist countries of the world, military aggressions and regional wars. Keeping aside the rules of trade and investment it is unleashing currency, trade, resources and information wars. Thus, monopolistic and predatory, hegemonic and fraudulent, parasitic and decaying, transitional and moribund imperialist characteristics reached an unprecedented plane. This is sharpening the three fundamental contradictions in the international plane.

Moreover, in the early stage of globalization, in order to solve over production crises, the massive flows of short-term speculative capital (portfolio capital) into the oppressed countries. As a result of capitalist anarchic market competition and because of the dependence of the economies of the backward countries on the mercy and needs of speculative capital, these economies have become most vulnerable to every crisis in world economy. Almost every capitalist country, India, South Korea, Brazil, Mexico, Argentina and other Latin American countries tuned centres of over production crises. Any sudden withdrawal of foreign funds can even lead to the collapse of economies as illustrated in Indonesia, Malaysia, Thailand, Singapore and South Korea and earlier by Mexico, Argentina and other Latin American countries. The crisis has affected the greater part of the globe due to the close integration of the various individual economies. The crisis in the economies of the so-called Asian Tigers and the Newly Industrialising Economies (NIEs) has exposed the myth of the miracle growth spread by the World Bank-IMF-WTO combine. It has shown that even the fastest-growing economy may collapse any moment, if its growth is based on the prescriptions of IMF-World Bank. Three of the four aspects that appear inspiring for the world capitalist economy – High tech dot com boom, stock market, dollar with a veil collapsed within three years after 2000. The other and the 4^th new wave that came in US in 2000-2006, the real estate bubble also broke by 2008.

Today, loan-based development became a feature of every economy in the world. It is further expanding crisis at all places and at all times. Thus, the financial and economic crisis that started in the end of 2007 in the form of sub- prime loan bobble in US spread. This accelerated into world wide social and political crisis. After the great depression in 1990s this took severe form at the same level by 2008 November. Subsequently this transformed into long drawn crises that continues today.

Several big banks of US and various capitalist countries collapsed due to sub-prime crisis. Imperialist countries adopted bailout packages. US government printed dollars in a big way. The policies of finance deficit led to further intensify the imperialist economic crisis. Bailout packages helped the imperialists to make profits. On the other hand, unemployment, fall in real wages. Decline in people’s welfare pushed workers and people into poverty. Economic inequalities reached a severe state. The rich became richer and the poor poorer.

Due to the globalisation policies, as the loot of labour power increased, there was a fall in the purchasing power of labourers, there was over production crises and stagflation continued. This led to large scale Mergers and Acquisitions of Companies at a large scale in various industrial and finance Companies and enterprises all over the world. With the support of new generation of information and communication technology and emergence of internet, there was a wave of cross border mergers and investment and trade. Earlier to 2008 the number of Mergers and Acquisitions were 11,500. By 2018 it rose to 30,000. A few Multi-National banks play a decisive role in the economic life of the country through finance capital.

The wealth of giant MNCs and TNCs is almost equal to that of the total countries. By 2017, biggest 737 MNCs and TNCs of the world control 80 percent of the total production in the world. 80 percent of world trade is done through MNCs in 2017 itself. The biggest 100 non-financial MNCs of the world shifted more than 60 percent of their wealth on an average to either foreign countries or backward countries and continued sales. Online, Asset lite model, gig platform is speedily developing since the second decade of the 21^st century. This is mostly dependent of temporary part time, contract, freelance method. Comrade Lenin guessed these developments and stated that very few mega financial enterprises shall rule the world in future.

Imperialist monopoly is coming in the way of technological new invention and is slowing technological progress. This is causing severe hurdle to the development of productive forces. For example, in spite of inventions of advanced functions in mobile phones, MNCs don’t provide these functions at a time to the consumers. Every production provides one function. This makes consumers constantly purchase mobile phones for new functions and the companies constantly gain super monopoly profits. This led to accumulation of capital all over the world and intensified the problems of over production.

Imperialism utilised corporate media in a big way to mould the opinion of people according to its forms of exploitation by constantly and widely making an impact on people’s minds and hearts about liberal literature, art and values in forms of multimedia in the stage of globalisation. It established its cultural hegemony. The mainstream media of US – magazines such as Verve, Vouge, Cosmopolitan and the Hollywood movies that could create illusions among the people of the world towards western life style controls nearly 75 percent of world television programs, music and literature. Basing on this imperialist ideological base it brought forth imperialist globalisation policies in backward countries.

In this process, socialist China turned revisionist after the demise of the great Marxist teacher Comrade Mao in 1976. Large scale bourgeois reforms were unleashed after capitalist restoration due to which the government bureaucratic ruling class gradually transformed into bureaucratic monopoly capitalist class and private monopoly capitalist class. It joined WTO in 2001 and became part of globalisation policies. By 2014, China came to be an important economic power in the world and emerged into a new social–imperialist force. Strong monopoly enterprises of China became global players. Few finance capitalists having hegemony on finance capital emerged. Four of the 10 biggest banks of the world are in China. It emerged into a very big exporter of capital. It became the biggest lender of the world. It is exporting heavy investment to backward countries. It established international institutions such as Shanghai Cooperation organisation (SCO) as Political, Economic, Military block, BRICS economic block and gaining hold on those. It aims to fulfil its imperialist interests and to enhance its military efficiency and establishing military basis in various countries in a big way. The emergence of China social imperialism further intensified contradiction in imperialist economy that is suffering from general crisis.

Trends in labour mobilisation and relations

In the stage of imperialist globalisation new trends in mobilisation and new methods of exploitation in labour relations came forth. Physical and intellectual labour migration became the prominent trend all over the world and in the country. In 2013, six crores and 44 lakh people of backward countries migrated to capitalist-imperialist countries. This is double to that in 1990. Most of the migrants are skilled workers (intellectual migration). This is depleting the intellectual resources of backward countries.

Due to the distorted development all over the world in this stage, employment and labour started to shift from the capitalist-imperialist countries to backward countries, from organised sector to unorganised in industries from agriculture to non-agriculture and on the whole from productive sector to non-productive sector. The enormous industrial proletariat of backward countries is an utmost important change in the era of imperialist globalisation in the history of capitalism. The working class grew out of migrants from oppressed country in imperialist countries. We see that women entered wage labour in almost all countries in the world. As a result, international division of labour newly came forth for market contention in the international plane and the fourth industrial revolution – Artificial intelligence cyber technology and auto machine dangerous trend of top level of mechanisation came forth. On the other hand, casual, contract, outsourcing, Gig Platform, forms of labour and very low wages in government and private sectors became the main trend all over the world. In capitalist countries and especially in backward countries a reserve army of unemployed, semi-employed, unorganised workers rose many times more. The production chain of imperialist globalisation crossing the borders of the country and spreading to several countries is a big change. The export trade and production between capitalist–imperialist countries and backward countries came to be a manifestation of globalisation and an exploitive relation between capital and labour. It means that, due to globalisation, these changed into an unequal, exploitive relations that export the goods produced with the labour of the backward countries at dead cheap prices dictated by their capitalist-imperialist masters.

Direct and indirect violence, control and exploitation of the MNCs and TNCs on the workers intensified further. The MNCs and TNCs intensified onslaught on the proletariat of their own countries, increased working hours, stalled wages, employed casual and contract labour, increased the rate of surplus value (profits) through outsourcing, imposed heavy cuts in social welfare and revived the falling profits and thus gained heavy profits. These brought forth various kinds of inhuman new forms and methods of exploitation to extract more and more surplus value from workers of backward countries. Due to very low wages for workers in these countries the MNCs could mint super profits. With large scale retrenchment of workers, unemployment grew to a state never known earlier. They boasted that there would be large-scale employment through Foreign Direct Investments (FDI). But there was a near growth from 19.4 percent to 20.2 percent in the industrial sector of backward countries from 1995 to 2005. Employment in agricultural sector fell from 73 percent in 1960 to 48 percent in 2016. Employment fell from one-third to 4 percent in capitalist- imperialist countries. New employment is mostly in the unorganised sectors. Due to lack of employment educated women and men of urban areas all over the world are taking up prostitution. Thus, the propaganda that globalisation would provide large scale employment proved to be false.

Due to financialisation, i.e., to extract super profits, finance capital made agreements that allow to go places where there is cheap labour, Acts that permit to enter and withdraw at any time and any place easily. Thus, there is no guarantee for security and standards for workers and job. The MNCs own subsidiary outsourcing Companies in many countries. Therefore, if they face any unfavourable conditions (strikes, changes in government policies, changes in currency values etc) in a country, it became easy for them to shift production to another country. Workers suffer from heinous working conditions and lack of minimum wages. As mentioned above, they fell in a situation where they lacked real wages not only in backward countries but also in capitalist-imperialist countries. Due to contractisation, casualisation and outsourcing, the organised strength of trade union and workers was disrupted and the rights that workers achieved through struggles for centuries were trampled. Attacks and trade unions intensified. This led to large scale institutionalised unemployment. With the reduced opportunities to make labour aristocrats from among workers, their hegemony on working class weakened. On the other hand, goonda gangs controlling workers are on the rise. Fascism of the total 6.4 percent owners of Finance Capital and their agents came into existence. This is a very important change in New Economic Policies. This led to severe rise in economic and social differences all over the world. As a result, conditions are growing favourable for militant working-class movement all over the world.

Imperialist countries are taking up changes in financial policy, hike in interest rate and other such measures of their central banks to overcome the financial and economic crises. They are trying to reduce inflation by limiting money supplies. These measures are in turn slowing the economic activities. Economic growth and per capita income are in decline. These are unable to bailout imperialism from crisis. It is again and again falling into the mire of crises. Imperialist general economic crisis is intensifying further.

Thus, governments are interfering in a big way to overcome crises through heavy loans and budget deficits in vain. Covid pandemic that was a creation of imperialism disrupted imperialism economy. 500 MNCs and TNCs of the world are facing difficulties out of burden of loan. Worldwide loan reached 290 trillion dollars by 2022.

US loots the resources in backward countries, indulges in wars of aggression, constantly instigates war and sells arms in spite of which it is unable to overcome economic crisis. Inflation reached 40 years maximum by 2022 December in US by 2000 the foreign loan of US wars 5.8 trillion dollars that went beyond 30 trillion dollars by the end of 2021. US loans amounts to 70 percent of its GDP. America declined to become the most debt-ridden country of the world. Presently there is no improvement in the condition of the economies of the major imperialist countries of the world. In 2023, GDP growth rate was 2.9 percent in US, 5.2 in China, 1.5 in Japan, 0.3 in Britain, 0.6 in France, – 0.3 in Germany and 5.5 percent in Russia. Inflation was at 3.4 percent in US, – 0.3 perent in China, 2.9 percent in Japan, 4 in Britain, 4.1 in France, 3.8 in Germany and 7.4 in Russia. Unemployment rate is 3.7 percent in US, 5.1 in China, 2.5 in Japan, 4.3 in Britain, 7.3 in France, 3.1 in Germany and 2.9 in Russia. As a result, economic crisis is further intensifying in a level unsolvable by any government or bourgeois economic theory.

Third and Fourth Industrial revolutions are nothing but a rise in organic composition of capital. The opportunities for profits and profit rate lessens to the extent of rise in organic composition of world economy. Thus, it is proved that economic crisis shall further intensify.

After capitalism transformed into imperialism, it spread post-modernism in a big way in the field of ideology to solve the general crises that came forth. It followed Keynesian policies, monetarist policy, imperialist globalisation policies and the technology said to be the 3^rd and 4^th industrial revolutions. It unleashed colonialism, neo-colonialism, racism and fascism politically. It made two World Wars and hundreds of regional wars. It is unleashing green energy, clean energy policies to solve environmental crisis. All these failed and are failing. In this condition it is once again taking up regional wars and making preparations for World War. Thus, conditions are becoming favourable for World Socialist Revolution.

Trade and Currency wars

Imperialist economy does not depend on genuine economy but on speculation. So, world financial and banking systems falling in crises became an ordinary trend. The basis for this lies in changing the transactions of real goods, resources and labour for deceptive paper dollars as a part of 1944 Bretton Woods agreements into an international policy. Depending on this US unilaterally raised duties and decreased the currencies of other countries. And thus, indulged in countless trade wars and currency wars.

In the early period of 1970s, general crisis in world imperialist economy intensified, with the rise in economic contention for a big share in the world market. The contradiction between the then US super power and west Europe, Japan imperialism intensified. In 1970s and 1980s contention between MNCs and TNCs intensified trade wars and tariff wars. US manufactured goods could not withstand the competition in the world market. Since the beginning of 1970s, Japan imperialists had to gain hold on places of raw material and markets. In order to sustain the falling profit rate this, need pushed them towards investing foreign countries. Then they entered into direct conflict with their opponents through trade wars this resulted in official reduction of transaction rate of US dollars that came to be the world currency in Bretton Woods order, in 1971-73. Dollar was devalued with the establishment of floating exchange rates system. This stood as the symbol of first economic decline of US. We saw that starting from 1986 until the emergence of WTO there was big trade war between the imperialist countries and between the imperialist countries and backward countries.

For 12 months until 1991 July, Germany exports were in the upper hand then US suffered a deficit of 85.8 billion dollars. This led to trade wars and tariff wars between Germany and other imperialist countries of US and Europe and Japan. In the recent period of 21^st century US utilised its dollar hegemony it unleashed trade war and currency wars with several imperialist countries including China and backward countries. The unilateral hike in trade duties on Turkey led to the fall of Turkey currency Lara by 47 percent. World imperialist economy dependent on financial speculative trade. So, US dollar, European euro, the currencies of imperialist countries and backward countries considerably weakened in various degrees. The Indian rupee that was equal to one dollar in 1947 was horribly devalued to 83 rupees. Now the hegemony of US dollars is a good example of neo-colonial exploitation. Trade and currency wars spread to diplomatic and military sectors also. There are re-alignments in financial institutions such as IMF, WB, APEC, AFTA, BRICS and SCO based organisations and IFI hegemony of imperialism. Thus, the general crises in imperialism is becoming further complex. Exploitation and oppression are further intensifying on oppressed nationalities and peoples in all the backward countries of the world and workers, middle class, migrant workers and toiling people in capitalist-imperialist countries.

Britain stepped out from European union as the part of Brexit plan due to imperialist economic crisis in vain. Due to economic crisis the imperialist countries are on one hand implementing protectionism and on the other are stopping the backward countries from implementing protectionism following these dual policies. It has become an ordinary feature to make tariff wars. The defence sector expenditure reached several trillion dollars with the contention between the imperialists to plunder resources cheap labour and markets for world hegemony. This is further sharpening the crisis in the economies of backward countries in the mire of loans and the crisis in capitalist- imperialist economy.

Imperialist finance capitalists are least bothered about the dangerous effects on human beings and environments from the Companies. They invested in the two World Wars. They minted billions of dollars of profits at the cost of human lives in large numbers. This created multiple crises such as economic crisis, employment crisis, environment, climate crises, fuel crisis, forcible migration crisis, socio cultural crisis and political military crises. These crises became pandemics and are making severe multiple impact on social, political, cultural sectors all over the world. These are ending the lives of the people. All these lead to revolutionary crisis in the world plane in future.

Economic crisis: Economic crisis continues without stop since 2008 and spread all over the world. Those capitalists who accumulate more capital shall win. They merge and acquire weak Companies and gain monopoly. This contention between capitalists and resulting economic crises shall never end.

Employment crisis: Capitalists do not try to create employment. They employ workers only to create surplus and accumulate wealth. This is the nature of capitalism. This came forth clearly in the face of globalisation. In the situation where they bring technology and machinery day by day and remove workers from work in the vicious circles of cut throat competition, one cannot expect they would provide employment to people. Recent dozen technologies came to be ‘technologies creating unemployment’.

Environment, Climate crises: Imperialist globalisation policies are causing the spread of environmental crises in hundreds and thousands of ways. Climate process was affected. This is showing an impact on the majority people of the world. The COP meetings held every year in the leadership of United Nations and participation of countries of the world have been failing to control the impact of environment crisis. There are several studies that reveal that imperialist US, China and backward India to be the reason of nearly 40 percent pollution of the world. Even then imperialists will not shed their greed for profits. Due to their policies there is indiscriminate extraction of fossil fuels. All these led to unprecedented degradation in environment. This is leading to rise in temperature of the earth year by year. The time to limit average surface temperature to 1.5 degree Celsius according to Paris accord had already exceeded. Now situation of the earth is in danger. Maximum temperature was recorded in 2023 in the past 174 years since capitalism emerged. 2024 recorded maximum temperature in history. In 2023 two hundred people died in Malawi and Mozambique of Africa in 2023 due to cyclones. 11,300 people died in Libya when ice cover in broke in Antarctica ocean caused cyclone Daniel. Cyclone caused havoc in few states including Florida in US, in Hong Kong, Brazil, Turkey, Bulgaria and Spain. 3 crores and 20 lack people were displace due to natural disasters in 2022 all over the world. Most of them are from sub Saharan Africa.

Due to environmental destruction, areas that never witnessed famines are suffering from it. Lakes are drying up in snow mountains. Glaciers are melting. There is either more are less rainfall due to impact of El Nino. Effect on crops, “heat island effect” (accumulation of heat in large amount on cities) causing heavy floods with heavy rains leading to loss of live and hundreds of thousands of crores of rupees of properties in a single day, spread of several kinds of viruses in the layers of earth leading to spread of pandemics like corona reveal the destroyed state of environment. If the growth in earth temperature continues in this manner, environmentalists warn that there shall be very powerful cyclones in the northern hemisphere, destruction of crops all over the world and floods in coastal cities. We cannot preserve environment without rooting out imperialism.

Fuel crisis: The fuel crisis caused by the policies of imperialists put their own profits in danger. Traditional fuel resources are limited. There are limitations to reproductive fuel resources. The water needed for production of fuel too is being indiscriminately exploited by imperialists. Finance capital does not have any solution for fuel crisis.

Forcible migrant crisis: Due to the constant direct and indirect wars of imperialists, crores of oppressed people are turning refugees without anywhere to go. In this process many of them are dying in rivers, seas and cyclones. A new kind of slavery came into existence in the 21^st century with such war refugees. They live like slaves in concentration camps deprived of all rights.

Socio-cultural crisis: Vulgarisation of culture is another negative effect that finance capital showed on the society. It increases consumerism for its super profits. Imperialist, feudal culture is giving rise to narcotic culture, criminal culture, prostitution, distorted sex and pornography that are developing vulgar social values. There are indiscriminate atrocities on women and girls. There is rise in racism, communalism, casteism, and national frenzy.

Political and military crises: In order to solve economic crisis, the policies followed by imperialism are leading to political and military contention that is turning into crises. Military alliances are being formed. Defence expenditure of their comprador ruling governments are rising in an unprecedented manner. Mao said that imperialist world wars break as a result of an imperialist countries to over come new economic political crises. Imperialists made hundreds of regional wars after World War II to re-divide the world among them. Crores of people died and many more crores of people were injured in these wars. Imperialists exploited wealth all over the world only through wars and gained super monopoly profits.

Imperialism-Fascism-World War-Proletarian revolutions

Although there are a few intervals in the general crises in the history of capitalism-imperialism, one after another crisis comes even now. This shall continue to be so in future. As a result, the three fundamental contradictions – contradiction between imperialism and oppressed nationalities, oppressed people; contradiction between bourgeois class and proletariat in capitalist-imperialist countries, contradiction among imperialist countries and among monopoly capitalist groups – are sharpening in an unprecedented manner. We need to analyse the changes in world politics in this background – The continuing internal collaboration and severe contention between imperialist countries since early 1970s, especially, collapse and political degeneration of Soviet Social imperialism as superpower, weakening of US imperialism, the inability to extract super profits, severe fall in profit rates, all these leading to rise in world wide fascist offensive, the imperialist wars of aggression in the leadership of US, war hegemony on world market and resources, the developing favourable situation day by day for revolutionary, democratic, nationality liberation struggles all over the world since the end of 1970s.

In the politico-economic developments in 21^st century, China developed into a new social-imperialist country, G-20, SCO, BRICS were formed with which multipolar world came into existence by the second decade of the 20^th century. America challenged this and tried to expand NATO all over Europe and Asia in its economic and political interest and this is causing severe conflict between it and the contending imperialist countries Russia and China. As a result, cutthroat competitions on one hand, Indo pacific command, QUAD, AUKUS, QUAD 2 or the West Asia alliance and other such military alliances were formed. On the other hand, economic, military, diplomatic agreements are being made between Russia and China and with several countries in its leadership, while making intense attempts to develop BRICS as an economic block and SCO into a security block. These two countries are making moves to mould G-20, G-77 in its interests.

The Russia–Ukraine war going on for the past two years is the result of contention between imperialist countries and between Multi-National Companies and enterprises. This was a proxy war between NATO countries in the leadership of US and Russia. On the other hand, tensions are rising day by day between China and America on Taiwan issue. In the process US imposed economic sanctions on 26 countries such as Iran, North Korea and Syria. In the whole process although US lost its super power it is still the number one enemy of the oppressed nationalities and people of the world. With the heavy struggle of resistance of the Palestine guerrillas in 2023 October being made with the objective of liberation of Palestine against the Zionist Israel that made an aggression into Palestine to serve the US imperialists and with their support, Israel began a war of genocide in Gaza. More than 30 thousand people of Palestine were massacred until now. It continues the war with the support of US. US and NATO countries were least bothered about the severe protest from the people of the world for the past five months.

All kinds of attempts of the imperialist countries in the past 15 years to solve the world economic crisis utterly failed. These countries are making preparations for war in a large scale for the re-division of world. These are heavily increasing different budgets. There is increasing military efficiency and holding more military exercises. Militarisation and war always provided enormous profits to imperialist monopoly enterprises. These take this path mainly in the period of severe economic crisis. With these developments the danger of World War III is rising and there is a big danger to world peace.

While on one hand the proletariat is suffering from severe unemployment and poverty due to economic crises, on the other hand the imperialists found the only way to sustain profit rates through further merciless onslaught on the proletariat. Worker, peasant, middle class and other oppressed people of backward countries and proletariat and middle-class people of the capitalist countries are taking up militant struggles in various places. These are becoming very long drawn. Imperialists can give only one answer to the people and that is fascism. We no that fascism is the product of finance capital. Fascism is the strong social instrument in the hands of the imperialists for re-structuring in the stage of globalisation. Imperialists have been propping fascism for the past three decades in various forms in order to suppress, loot, torture, invade the oppressed nationalities and people in all kinds of methods and to sustain its profits. This is resulting in unprecedented large-scale destruction of productive forces in human history. Its destruction is going on many times more than that of in the great depression of 1930. The explanation of great Marxist teacher Comrade Lenin about the distorted features of capitalism that reached the highest stage still proves to be true. These features now took up an indescribably deadly distorted form.

“The world has become divided into a handful of usurer states and a vast majority or debtor states…” said Comrade Lenin in ‘Imperialism the highest stage of capitalism. We see how the world financial order grew speedily, how “Finance capital say, spreads its net over all countries of the world” and how industrial capital today surrendered to parasitic forces.

“…Imperialism is an immense accumulation of money capital in a few countries, amounting, as we have seen, to 100-150 billion francs in securities. Hence the extraordinary growth of a class, or rather, of a social stratum of rentiers, i.e., people who live by “clipping coupons,” who take no part in any enterprise whatever, whose profession is idleness. The export of capital, one of the most essential economic bases of imperialism, still more completely isolates the rentiers from production and sets the seal of parasitism on the whole country that lives by exploiting the labour of several overseas countries and colonies…” (ibid).

This parasitic capitalism is preserving its intellectual property rights living on interests, profits, commissions, royalties and many others on the basis of new international division of labour and is exploiting the people of the entire world in an unprecedented manner.

Thus, we see manifold growth of the five fundamental characteristics of imperialism stated by comrade Lenin 106 years ago going to a surprising level and shall definitely instil enormous confidence Marxism-Leninism-Maoism.

Firstly, “…features: 1) the concentration of production and capital has developed to such a high stage that it has created monopolies which play a decisive role in economic life that monopolies were formed and played a decisive role in economic life…”. As we saw in the previous year, capital concentration and production concentration today rose to a very high level than that of Lenin’s time, monopoly enterprises are playing decisive role not only in economic sphere but in all spheres such as social, political, military, cultural, family etc.

The second is, “…the merging of bank capital with industrial capital, and the creation, on the basis of this “finance capital,” of a financial oligarchy..”. During Lenin’s time finance capital was formed in very few countries (three or four) and now it turns to be the world-wide feature. Today finance capital rules even the remotest area of the world.

The third is, “…the export of capital as distinguished from the export of commodities acquires exceptional importance …”. We saw how this rose than the earlier.

The fourth is, “…the formation of international monopolist capitalist combines which share the world among themselves”. Today MNCs and very few international monopoly capital enterprises (737 MNCs are ruling the world). These not only divide the world but also the planets and sky.

The fifth is, “…territorial division of the whole world among the biggest capitalist powers is completed…”. This characteristic of imperialism that led to two World Wars took the form of neo-colonialism with the end of direct colonial rule of the imperialist due the heroic nationality liberation struggles of the people of the world and the various imperialist countries divided the world into backward countries, semi-colonies and neo-colonies of spheres of influence. Since Soviet Union came to be social imperialist country and a super power until the end of 1980s, both the super powers divided the world among them. Today it is divided among US, China, Russia, Germany, France, Britain and Japan. As long as imperialism exists division and re-division of the world is inevitable. War is the only ultimate solution. We need to remember what Lenin said while condemning Kautsky’s theory of ultra-imperialism.

“…The question is: what means other than war could there be under capitalism of removing the disparity between the development of productive forces and the accumulation of capital on the one side, and the division of colonies and “spheres of influence” for finance capital on the other?…” (ibid).

Lastly, today, socialisation of production is done in a very large scale than during the Lenin’s time. Socialisation of production is uniting the proletariat and all the oppressed people all over the world including those in the developed countries. To put it in Lenin’s words, “…that private economic and private property relations constitute a shell which no longer fits its contents, a shell which must inevitably decay if its removal by artificial means be delayed; a shell which may continue in a state of decay for a fairly long period (if, at the worst, the cure of the opportunist abscess is protracted), but which will inevitably be removed.” (ibid). The meaning of socialisation of production all over the world and in the final stage of capitalism is, “…the eve of the socialist revolution”.

This is the meaning of the policies of globalisation chosen as a solution for imperialist economic crises that repeatedly lead to high level crises. As a result, imperialism is going much closer to death. The immediate task is to eliminate imperialist order before it destroys the entire human kind comes forth the world proletariat more than ever. Utilising these crises, reactionary right movements in the leadership of fascist parties and organisations cash on the discontent and despair of the people and are strengthening and spreading all over the world. On the other hand, anti- imperialist movements against nuclear wars, for protection of environment and for civil rights in the leadership of various democratic organisations and associations; revolutionary movements, Protracted People’s Wars in the leadership of proletarian/Maoist parties in various countries, liberation struggles of oppressed nationalities in the leadership of various nationality liberation organisations are gaining strength or making preparations for the same all over the world.

Multiple crises are bringing forth the opportunity for both revolution and counter-revolution. However, class struggle decides it. It will not be priorly decided whether fascism gains the upper hand or revolutions advance. As a German Marxist stated basing on the teaching of Marx, any economy, however weak it is, will not collapse on its own and that it has to be destroyed. A theoretical analysis of the trends that are stagnating the system are useful to find out the weak link. Change is possible only through active efforts of the subjective forces. With this understanding the world proletariat can fulfil the task only by advancing in New Democratic Revolutions and Nationality liberation movements in backward countries and Socialist revolutions in capitalist-imperialist countries with the objective of accomplishing world socialist revolution in the light of MLM against entire imperialism.

In order to achieve this task Maoist parties and forces of the world need to stand united, work as a single nucleus and provide leadership. Since imperialism is the causative factor for environmental crisis, the movements for protection of environment must be realised as part of anti-imperialist class struggle and the revolutionary communists must provide leadership. Only thus it is possible to organise all the anti-imperialist forces, revolutionary, democratic, nationality liberation struggle forces, anti-war, anti-globalisation forces, forces of environmental movement on to a United forum for struggle. This is the only path before the people of the world to establish socialism and later communism where there in no space for multiple crises.