A decade after having proclaimed the «end
of history» and the arrival
of a new world order
of prosperity based on «democracy and the market», globalised
financial capital has subjected the majority
of the planet's working populations to the
burden of international recession, which has spread out in leaps and bounds, from Asia: recession and deflation in the world's second economy, Japan; recession and even depression m various east Asian countries, since the first quarter
of 1997; the
collapse of the Russian economy six years ago and
financial bankruptcy in July 1998; brutal recession in the leading economy
of Latin America, Brazil; the beginning
of the downturn in the economies
of the OECD countries.