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India: A discussion on “What does Modi’s victory mean?”

By Roger Silverman, June 2014
(Cde. Silverman is one of the founders of Workers International Network. The original article, which was specially commissioned for Workers International Journal, has also been posted on https://groups.yahoo.com/neo/groups/socialistdiscussion. WIN also has a Facebook Group: https:// www.facebook.com/ WorkersIntlNetwork)

The article I wrote recently on the Indian election results initiated a correspondence with the son of a British friend who is currently working in Banglaore, India. He has illusions in Modi, and we have had a fairly spirited exchange of ideas. I have copied here my latest reply to him…

Thanks for your reply. For me, too, it is stimulating to have my ideas challenged (even when they are right!). I haven’t got time for a thorough reply now, but here are a few interim points to keep the discussion going:
You keep quoting the wishes of the USA (in this case, once again in relation to their collusion with India in unilaterally violating the nuclear non-proliferation pact), as if that were a decisive factor in determining the future course of world history. If anything, this policy had far more to do with US determination to tie the hands of Pakistan, with its ambivalent attitude to Islamic fundamentalism, than with India’s rivalry with China; it is after all towards Pakistan that the Indian H-bombs are facing. Continue reading

Cracks recently appeared in the edifice of world capitalism

By Balazs Nagy
First published in Lutte des Classes No. 11, September 2013.

We really ought to draw our readers’ attention to two major current events which ̶ each in its own political and economic way ̶ testify to a considerable deterioration in the painful death-agony of capitalism-imperialism. On the one hand, there is the current stage reached in the breakdown of its arrangements in the Middle East with the in itself unusual and surprising but real political blockage affecting this system in relation to the civil war in Syria; on the other, the fresh upsurge of world crisis in the ̶ for many ̶ unexpected shape of a general fall in the rate of growth in production among more or less all the so-called “emerging” countries: India, Russia, Indonesia, Brazil, South Africa, etc., including China. This fall is expressed and accompanied by a real upheaval in their financial system through a brutal fall in the values of their currencies, excepting China. As luck would have it, all of these serious problems of imperialism have matured and are concentrated at the Moscow meeting of the 20 countries which are considered to be the most important, the famous G20 on 7 and 8 September 2013. Continue reading

INDIA: WHAT DOES MODI’S VICTORY MEAN?

By Roger Silverman, June 2014

(Cde. Silverman is one of the founders of Workers International Network. This article, which was specially commissioned for Workers International Journal, has also been posted on https://groups.yahoo.com/neo/groups/socialistdiscussion. WIN also has a Facebook Group: https:// www.facebook.com/ WorkersIntlNetwork)

 

The sweeping electoral victory of the BJP under the leadership of Narendra Modi has been greeted worldwide with a mixture of euphoria and alarm.

For big business, the justification for the euphoria lies in Modi’s record as chief minister of the state of Gujarat between 2002 and 2010, when he presided over an average growth rate of 16.6% a year. However, Gujarat’s rapid growth actually pre-dates Modi by a whole decade: it had already been the fastest-growing of India’s fourteen major states between 1991 and 1998. Moreover, even during Modi’s tenure of office, Gujarat was not in fact India’s fastest-growing state: its record was exceeded by Uttarkhand and Sikkim. Continue reading