G8 Summit: Global Capitalist Get-Together
By Prof. Jose Maria Sison
The 34th G-8 summit in Hokkaido, Toyako, Japan from 7 to 9 July 2008 is slated to discuss and reach consensus on issues under the main themes of world economy, environment and climate change, development and Africa and political issues. As their imperialist character dictates, the United States, Canada, United Kingdom, France, Germany, Italy, Japan and Russia will seek to harmonize their policies in further exploiting and oppressing the proletariat and people of the world.

The policy of “free market” globalization has failed to override the fundamental ills of monopoly capitalism and has brought about the worst economic and financial crisis of the world capitalist system since the Great Depression. In this dire context, the summiteers have highlighted in advance the need for stabilizing the turbulent financial market. But the US is not being held to account for its main responsibility in generating the economic and financial crisis.

What can be expected are some moderated references to the mortgage meltdown and the international credit crunch. But certainly no serious concern will be expressed by the summiteers about the accelerated crisis of global capitalism under the myth of neoliberalism and the high costs of aggressive wars under the pretext of anti-terrorism. As matter of public relations, the summiteers will take up the soaring prices of fuel and food and pretend to be concerned about the plight of the working people and the underdeveloped countries. But they will not hold the oil and food cartels to account.

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