G20 neoliberal agenda a miserable failure

ILPS Statement 01 July 2019
G20 neoliberal agenda a miserable failure, continues to aggravate crisis for world’s people

The recently held G20 summit in Japan is both a collusion and contention of imperialist powers. It continues to be an imperialist tool to exploit the world’s working peoples and oppress smaller and weaker nations.

Amidst an insoluble monopoly capitalist crisis and increasing inter-imperialist rivalry in the world, the G20 in its Communique sought “a free, fair, nondiscriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open.”

In other words, the G20 is insisting on the more than four-decades old neoliberal agenda which has not only miserably failed to solve the global crisis but continues to aggravate the crisis suffered most by poorer peoples and nations.

The statement noted that “global growth remained low and risks were tilted to the downside, as trade and geopolitical tensions have grown.” This is merely an echo of the communique of the G20 finance chiefs’ meeting, a virtual mouthpiece of the world’s financial oligarchs.

The US is trying to broker a trade deal with China for more protection of intellectual property and prevent the forced transfer of American technological know-how. The US bowed to China demands that it resume sales of products to Huawei Technologies, the Chinese telecom equipment manufacturer.

On climate change, the US stood out from the rest with its stance against the Paris climate accord.

The Summit facetiously issued a communiqué stressing the importance of an active ageing society that enables older workers to participate in the labour market. This is not labour market inclusion. This is greater extraction of superprofits from labour.

The annual meeting, which includes 19 countries and the European Union, addressed issues on the global economy but openly manifests each big power’s own political agenda.

On the sidelights are press soundbites. British Prime Minister Theresa May confronted Vladimir Putin regarding the Salisbury novichok poisonings. Trump jokes with Putin over election meddling. Trump continues to stand by Saudi Prince Mohammed bin Salman despite the Khashoggi murder, supportive of each other in their interventionist wars in Syria, Yemen and the Arab world.

At the final day of the G20 summit, Trump took to Twitter to extend an invite to Kim Jong-Un for a face-to-face meeting at the demilitarized zone. Despite this overture, the US is still refusing to sign a peace treaty and work for the reunification of the Korean Peninsula.

It is up to the overwhelming majority of the world’s peoples to fight back against the continuing imperialist assault and work for a brighter future for the working-class and all oppressed nations.##

Issued by the Office of the ILPS Chairperson

Len Cooper, Chairperson.

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