The advances made by the left in the Argentine elections of October 14, 2001, along with new successes in the university elections and the achievement of the first united demonstration with a common programme for the crisis, confirms that the left, in the form of a coalition, may be beginning to take shape as an alternative focus in the current crisis.

Them or Us

The new governments of South America share a critique of neoliberalism, questioning unrestrained privatization, the excessive opening to the world market and social inequality. In addition, they propose to build more productive and independent capitalisms with greater state regulation. But their ascension to power has raised two questions: Do they form a common bloc? And will they enable ordinary people to gain power?

The renewal of interest in the study of imperialism has changed the debate on globalisation, previously centred exclusively on the critique of neo-liberalism and on the new features of globalisation. A concept developed by the main Marxist theorists of the 20th century - which enjoyed a wide diffusion in the 1970s - has again attracted the attention of analysts because of the aggravation of the social crisis of the Third World, the multiplication of armed conflicts and the deadly competition among countries.

The Free Trade Area of the Americas (FTAA) is a strategic project of the United States which seeks to consolidate its domination of the region through new mechanisms of trade penetration, greater control over investment and refined forms of supervision of financial flows.

Why is the economic crisis in Argentina so serious? How can the present and continuing depression be explained? The recession in the economy has persisted for three years, twice the traditional length of cyclical contractions. The fall in investment affects all sectors and the gross domestic product has fallen by 4.3 per cent from the beginning of 1998.

In recent years, the traditional vulnerability of the Latin American economy has sharpened in the face of diverse international crises. The recovery from the ’lost decade’ of the 1980s (the decade which began with the thunderclap of the Mexican debt crisis in 1982) has been of short duration.