Today we publish the fourth part of the IMT’s analysis of the world situation, which deals with the ongoing revolutions in Latin America and the Middle East, the movements in Brazil, Colombia, Venezuela, Egypt and Iran, as well as world relations and the decline of US imperialism.

Reform or revolution? This has been the main ideological debate in the labour movement for the past century. Today, the crisis of capitalism poses the question sharply. Unlike in the past, however, the material basis for reformism has been eroded. The cupboard is bare. Austerity, heightened class struggle, and revolutionary upheaval are on the order of the day.

We continue publishing here the latest analysis of the world situation by the International Marxist Tendency. In this third part, we look at the development of the situation in the “BRICs” – Brazil, Russia, India, and China – which were held up by many bourgeois commentators as being possible saviours of the world economy. Now, however, we see contradictions and tensions emerging in all of these countries.