All over the world, the capitalist states are taking austerity measures to slow the growth of their debts. It is obvious that this policy, since it slows consumption, can’t in itself sustain the growth required for capital accumulation. Where, then, can the necessary economic stimulus come from? For lack of alternatives, eyes are turning eastward. It seems, writes Sander, that history, the supreme ironist, has chosen ‘communist’ China as global capitalism’s saviour.
