Opening Speech at the Tenth Forum of the World Association for Political Economy

Abstract

June 19, 2015Dear scholars and experts,It is a great pleasure for members of World Association for Political Economy to gather at this very important country, South Africa, and Chris Hani Institute and UKZN Centre for Civil Society, for Tenth Forum of World Association for Political Economy, with theme of the Uneven and Crisis-prone Development of Capitalism. First and foremost, on behalf of association, I would like to express our sincere welcome to scholars and experts from more than ten countries around world and our deep gratitude to leaders, scholars, and staff members at University of Witwatersrand which co-hosts this forum.The main topics for discussion at this forum include: (1) phenomenon and cause of unequal development of capitalism around world and counter measures; (2) global economic and financial crises and new monetary and currency systems; (3) GDP distortions and alternative measures of economic performance and socioeconomic progress; (4) role of state and public ownership in economic and civic society; (5) trade unions, class struggles, and political economy of working people; (6) political economy of climate change and principle of common but differentiated responsibility; (7) Resource Curse and other colonial hangovers; (8) ecology, land, and urbanization; (9) race, class, and gender; (10) inequality's causes and antidotes; (11) social policy and socialist experiences; (12) BRICS, AIIB, Belt, One Road and new economic regionalisms; (13) Trans-Pacific Partnership (TPP) and Free Trade agreements; (14) decline of US hegemony and New Imperialism; (15) China- Africa relations and new scramble for Africa; (16) relationship between economic and social crises, military Keynesianism, and war.Now I would like to share with you my reflections upon some of above topics, for your reference.First, reality today further confirms scientific theory of Marx and Engels on regional, industrial, class, and racial inequality of capitalism and scientific theory of Lenin on unequal economic and political development at stage of monopoly capitalism. It is well known that, with establishment of US hegemony in 1990s and growing inequality in economic globalization and technological revolution, inequality exists not only in economic and social development within national boundaries but also among countries around world. Causes of global economic and political issues are diverse, but primary one should be United States and G7 under its control, which promote an international economic order under condition of powerless developing countries and in accordance with will and demands of developed countries in West.For instance, developed countries dominate in an unreasonable international division of labor, while many developing countries lack diversity in their structure of economic development, with raw agricultural and mineral products still being lifeblood of their economy. They also set up various trade barriers for export of developing countries, which have kept increasing unfavorable balance and debt burdens of these countries. Developed countries also dominated major international economic and financial institutions, and their currencies function as ones for major international payment and settlement, with little power left for developing countries. The result is that developing countries have been in a very disadvantageous position given that their economies have to rely to a great extent upon economic conditions, economic policies, and fluctuation of exchange rates in developed countries. Besides, United States confronted most serious conditions of internal racial and class inequality. As site called Globalist announced this May 2, medium of US households' net worth in 2011 was $68,828. In meantime, according to US Census Bureau, same index of white households and black households were $89,537 and $6,314, respectively, indicating that latter is only 7% of former. …