Hard on the heels of the US House of Representatives' May 2 approval of a bill containing a mammoth US$249 billion, six-year package of farm subsidies, the US Senate endorsed the legislation on May 8. US President George Bush has given
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General Pervez Musharraf has claimed that 70% of those eligible to vote in Pakistan's April 30 referendum participated, and that 97% endorsed his bid to remain the country's president for a further five years. However, a
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More than 10 million workers across India took part in a general strike on April 16. The action was taken to resist the anti-worker, neo-liberal offensive being waged by the Indian government and to oppose the diktats of the
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On April 8, thousands of workers gathered again in numbing cold at the Tieren Square in the north-eastern oil city of Daqing, taking their almost daily protests since March 1 into their sixth week. PetroChina Co., which owns most of
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Towards the end of Bill Clinton's presidency in 2000, the moaning and groaning of US "defence" contractors reached new heights — their profits were drying up as US military budgets shrank to a post-Cold War low. Following the
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Capitalism's nagging overcapacity problem refuses to go away. Having long plagued many key industries, the problem found new and sharp expressions in the global steel industry in the wake of the 1997-98 economic crises in Asia, Russia
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Under severe pressure from the Bush administration and the International Monetary Fund, the five-week-old government of Argentine President Eduardo Duhalde has chosen the "lesser evil" of floating his country's currency, the peso,
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The United States National Bureau of Economic Research (NBER) officially declared on November 26 that the US had lapsed into recession, and had been in that situation since March 2001. Soon after, the capitalist media and mainstream
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Despite being the biggest in the US energy business and seventh biggest among all US firms before its December 2 collapse, Enron had not paid income tax in four of the five years before 2000, according to Citizens for Tax Justice.
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"If I rob a bank, they throw me in jail. But if they rob me, then they say that's OK", screamed a protester who had joined thousands of others outside the office of Argentina's President Eduardo Duhalde on January 11 to demand
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In a televised speech on January 12, Pakistani military ruler General Pervez Musharraf banned two Islamist groups active in Kashmir — Lashkar-e-Taiba and Jaish-e-Mohammed. The bans have helped ease military tensions between India and
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"We followed him like lemmings into the sea", said Deborah De Fforge, one of the bankrupt Enron Corporation's 22,000 employees, as she recounted how the workers' trust in Enron CEO Kenneth Lay's sweet words had been bitterly betrayed.