Panic! The world’s
stock markets had their sharpest fall since 9/11 on Monday 21 January. Stock markets have had their worst start in the UK since records began! The UK is the most dependent of all the big seven
economies on finance, property and professional services rather than
productive sectors like manufacturing and transport.. So this world
downturn will hit it hardest of all.

In Bangladesh politics revolves round
the prices of staple foods. The price of rice in Bangladesh has a correlation with
poverty, economic and political stability. In 2000, a wage labourer could buy
6-7 kg of rice with his daily income (Taka 60 per day, about 43 p). Now, less
than half of that can be bought, even though the income has risen over time. Rising food prices stand out as a problem that, if left
unresolved, could derail all political predictions and spell disaster for the
country in 2008.

As the New Year begins Alan Woods comments on the state of world
affairs, highlighting the impasse facing humanity, a direct consequence of
capitalism in its phase of senile decay. At the root of the present world
turmoil is private property of the means of production, a system based on greed
for profit. In the next period the workers of the world are faced with the task
of removing the system.