Distritio de independencia/lima/peru
9066 palabras 37 páginasThe International role of China by Elisseos Vagenas, member of the CC of KKE, responsible for the international section of the CC
The rise of a new global power, China, has provoked a great deal of interest from analysts and ordinary workers all over the world. This interest is even more intense amongst politicized people, who understand the era of social revolutions which began with October 1917 in Russia and which led to a series of important socio-political struggles and revolutions in the entire world, among them the Chinese revolution. The interest concerning the rise in China’s power is contradictory, as the increase of its power is taking place under the red flag and with the CP of China in power.
Nevertheless, one of the …ver más…
The profits of the 500 largest private corporations increased by 23.27% in 2009.8
At the same time these corporations operating alongside Chinese state monopolies have increased international competition. 117 of these companies participated in 481 investment plans abroad, where they invested 225,27 million dollars9. In total Chinese direct investments globally in 2009 came to 56,53 billion dollars (5.1% of global investments), placing China in 5th place in the list of global investors10.
The rise of China’s economic power prompted a series of international banks in June 2010 (such as HSBC, Deutsche Bank, Citigroup) to push businesses to use the Chinese Yuan instead of the Dollar for their transactions11.
At the same time, in September 2010 China increased its acquisition of American bonds by 3 billion dollars reaching 86.7 billion dollars and maintained its position, ahead of Japan, as the largest foreign holder US bonds12. In addition, it signed an agreement with the International Monetary Fund (IMF) in order to buy bonds worth 50 billion dollars.13
Another noteworthy feature is China’s desire to control as many natural resources as possible, which are increasingly controlled by the Chinese corporations. Africa is at the centre of this activity. The following is particularly characteristic: In the 1990’s