International

Why China can achieve its 6.5% growth rate target

24th March 2016 Socialist Action 0

The following article by John Ross, explaining why China can achieve its 6.5 per cent growth target, was previously published by Socialist Economic Bulletin.

Economic targets for China were announced during the National People’s Congress of at least 6.5% annual GDP growth during the 13th Five Year Plan in 2016-20 and 6.5%-7.0% for 2016. Some Western economists claim such targets cannot be achieved. In fact, analysis of supply side factors, which will primarily be relied on to achieve these goals, shows clearly why China can achieve its 6.5% minimum growth goal.

China won’t have a hard landing – because it is not a capitalist economy

16th March 2016 Socialist Action 0


The following article by John Ross, setting out why the Chinese economy will not have a hard landing, was previously published by Socialist Economic Bulletin.

Some US hedge funds, echoed by parts of the international media, are currently trotting out the perennially inaccurate myth that China’s economy is about to suffer a “hard landing.” This invariably incorrect prediction has been periodically repeated for decades since China launched economic reforms in 1978. The claim then was that by failing to privatize companies, not adopting what became known as “shock therapy” in Russia and Eastern Europe, China condemned itself to stagnation. Instead in 1978-2015, China experienced average annual 9.6 percent GDP growth – the fastest by a major economy in human history.

Government parties of austerity trounced in Irish election – Sinn Fein advances

29th February 2016 Socialist Action 0

The governing coalition of Fine Gael and Labour suffered a humiliating rejection at the hands of Irish voters in the General Election and the anti-austerity forces advanced. This continued the pattern evident in both the Portuguese and Spanish elections in 2015. It may also set the stage for renewed elections to the Dáil in Dublin later this year as no party looks able to form a stable government.