China: SOE bond defaults show turbulent days ahead

A string of bond defaults by hitherto top–rated Chinese state owned companies in November has cast a shadow over China’s relatively firm economic recovery from the downturn set off by the COVID–19 pandemic. This shows that the Chinese state is fundamentally unable to avoid the organic crisis of the capitalist system.

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Chinese students struggling against “formalist lockdown”

In the past week, university students all over China have been openly struggling against their school administrations for effectively confining them on campus in the name of complying with the government’s coronavirus safety instructions. These protests have been spreading like wildfire, from the capital Beijing to Fujian in the south, to Inner Mongolia in the north and beyond, engulfing thousands of campuses.

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