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Posts Tagged ‘Mao

Finally some good news from the IMF

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The Dalai Lama at the IMF? Not at all, but we think he would like the IMF's new de-growth manifesto and would be delighted if all macro-economists turned vegetarian. Photo: Courtesy the official website of His Holiness The 14th Dalai Lama of Tibet

The Dalai Lama at the IMF? Not at all, but we think he would like the IMF’s new de-growth manifesto and would be delighted if all macro-economists turned vegetarian. Photo: Courtesy the official website of His Holiness The 14th Dalai Lama of Tibet <http://www.dalailama.com/&gt;

The first signs of the long-awaited change in thinking at the International Monetary Fund (IMF) can now be seen in the World Economic Outlook report. This routine blatherfest, which is issued by the IMF’s slick-but-barmy public relations department, is unremarkable on every occasion and the only reason you’d want to punish yourself by plodding through the 500-odd pages of this ode to deforestation is to admire the very latest chic for presenting boring graphs and charts. But this time, it’s as if a Buddhist rinpoche has edited the manuscript.

What’s changed and why? For the year 2013 the IMF has said that ‘global output’ (output of what, you may well ask, but do hold your horses) to expand 2.9% instead of the 3.1% it had, in an unsporting manner, forecast this July. Between that monsoon month and this one some heads must’ve rolled at the IMF (many more to follow suit I hope) because now the IMF has taken a firm long stride towards its manifest destiny: bringing about the no-growth economy.

However, some die-hard lumpens are still doing their best to rally growth insurrectionists to their tattered flag. They are still making announcements like “our analysis attributes the slowdown in part to cyclical forces, including softer external demand and in part to structural bottlenecks” and are wondering why “this has happened in spite of supportive domestic macroeconomic policies, (still) favorable terms of trade, and easy financing conditions, which only began to tighten recently” but confess to being bemused by “a non-trivial portion of the slowdown remains unexplained, suggesting that other factors common to emerging markets are at play”.

Not to worry, these radical elements will soon be overwhelmed, rounded up, their iPads and Nasdaq terminals will be confiscated and they will be issued the standard entry level rations of organically grown tulsi tea, second-hand kolhapuri sandals (‘chappals‘ to the initiated) and Indian khadi kurtas.

All you ever wanted to know about excel charts but were afraid to ask. I have suggested to our IMF comrades that they rename the 'current slowdown' bubble 'the fish'n'chips crisis'.

All you ever wanted to know about excel charts but were afraid to ask. I have suggested to our IMF comrades that they rename the ‘current slowdown’ bubble ‘the fish’n’chips crisis’.

Nonetheless, I will be the first to admit that their ideologues present quite a different challenge. You can see for yourself how difficult it is going to be to dislodge some of the rebel ideologues from an IMF that has already, in rank and file, enthusiastically redefined odious growth to in fact mean none at all. This soporific video will help you judge. I couldn’t get beyond 00:07 of the footage before falling over with acute narcosis, but perhaps you are made of sterner stuff.

Likewise, one of the leading rebel subcomandantes is broadcasting a steady tattoo of counter-revolutionary propaganda. She has been recorded as saying “changing global growth constellations have exacerbated risks in emerging market economies” and that “monetary policy accommodation combined with domestic vulnerabilities in emerging market economies may lead to further market adjustment globally” and even threatening “risks of asset price overshooting or even balance of payments disruptions”.

It is only a matter of time before this resistance is overcome. Meanwhile, I would be remiss in my duties as a degrowth advocate along the inspiring lines now redrawn by IMF if I did not remind these recalcitrants that Chairman Mao had said “A revolution is not a dinner partyy” or that Muammar Gaddafi had written (the Green Book, naturally) that “Mandatory education is a coercive education that suppresses freedom. To impose specific teaching materials is a dictatorial act” and that General Vo Nguyen Giap had when confronting the enemy firmly said “Their morale is lower than the grass”.

Finally, intelligence reports just in have confirmed that the conclusion of the IMF’s revolutionary new no-growth tract, which reads “a new round of structural reforms is a must for many emerging market economies, including investment in infrastructure, to reignite potential growth” is in fact a printer’s devil.

Hu Jintao on 90 years of the Communist Party of China

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Here follow extracts from the keynote speech made by Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), at a grand gathering marking the 90th founding anniversary of the CPC at the Great Hall of the People. This speech is an important document for not only Asians but also for those who follow socialism in all its variety in various parts of the world.

Facts have shown that neither the mission of striving for national survival nor the historic task of fighting imperialism and feudalism could be accomplished by reformist self-improvement movements which did not touch the foundation of feudal rule, old-style peasant wars, revolutions led by bourgeois revolutionaries, or other attempts to copy Western capitalism. To find a way of achieving China’s development and progress, one must, first of all, find an advanced theory that can guide the Chinese people in their revolution against imperialism and feudalism, and an advanced social force must rise that can lead social changes in China.

[You can get the full text in this document.]

With the founding of New China, the Chinese people became masters of their country and society and determined their own destiny. China achieved a great transition from a feudal autocracy that was several thousand years old to a people’s democracy. Great unity and unprecedented solidarity of all ethnic groups were realized in China. The history of old China being a semi-colonial and semi-feudal society which was like a heap of loose sand was brought to an end once and for all. The unequal treaties imposed on China by imperialist powers and all the privileges they had in China were abolished. The Chinese people stood up, and the Chinese nation entered a new era of development and progress.

[More on the 90th anniversary of the CPC from China Daily.]

Comrades and Friends, we owe all our achievements over the past 90 years to the tenacious struggles waged by Chinese Communists and the people of several generations. The Party’s first generation of central collective leadership with Comrade Mao Zedong at the core united with and led the entire Party and the people of all ethnic groups in achieving the great victory of the new-democratic revolution, establishing the basic socialist system and creating the fundamental political prerequisite and institutional foundation for all development and progress in contemporary China.

The Party’s second generation of central collective leadership with Comrade Deng Xiaoping at the core united with and led the entire Party and the people of all ethnic groups in starting the great march toward reform and opening up, sounding the bugle of the times for building socialism with Chinese characteristics and ushering in a new period of socialist development. The Party’s third generation of central collective leadership with Comrade Jiang Zemin at the core united with and led the entire Party and the people of all ethnic groups in steadfastly carrying out reform and opening up, advancing with the times, guiding reform and opening up to move in the right direction, and successfully ushering the great cause of socialism with Chinese characteristics into the 21st century.

A review of its 90 years of development shows that the following are essential for our Party to preserve and develop its advanced nature as a Marxist political party: The Party should free up the mind, seek truth from facts, advance with the times, take a scientific approach toward Marxism, use Marxism as an evolving theory to guide practice in new realities, uphold truth, correct mistakes, blaze new trails, and maintain the motivation that enables the Party to forge ahead in a pioneering spirit. It should serve the people, rely on them, work for their benefit with heart and soul, draw on their wisdom and strength, and always maintain close ties with them. The Party should appoint officials on their merits, attract as many talents as possible, use our cause to inspire, train, and cultivate high-caliber personnel, constantly absorb new blood, and maintain its vitality at all times.

The Party’s growth over the past 90 years shows that theoretical maturity is the basis for political conviction, advancing with the times theoretically is a prerequisite for forging ahead in action, and unity of thinking is an important guarantee for the whole Party to march in step. We Chinese Communists believe that the basic tenets of Marxism are an irrefutable truth and that Marxism must be constantly enriched and developed as practice changes, and we never take Marxism as an empty, rigid, and stereotyped dogma. For Marxism, practice is the source of its theory, the basis for its development, and the criterion for testing its truth. Any actions that stick to dogma, ignore practice, or overstep or lag behind real life will not succeed.

[More on the 90th anniversary of the CPC from China Daily.]