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.

A large part of the population in India is linked with the agriculture sector. This sector contributes 17 percent of the Indian GDP. But working conditions in the agriculture sector have not developed under capitalism and are worsening every passing day. The farmers are being pushed into further debt-traps because of the policies of liberalisation and privatisation under successive capitalist governments. There has been a general decline of living standards for farmers under the rotten capitalist system, with farmers being forced to live at the mercy of traders and multi–national corporations for their survival. The Farm Bills passed recently by the parliament are a big blow for the farmers, who were already living in miserable conditions and thousands of whom each year are opting for suicide across the country.