In August, the expected yield for ten-year Treasury notes fell below the yield for two-year notes for the first time since 2007, with the 30-year bond yield also reaching a new low. The “yield curve” tracks the yield to investors who purchase shares in government debt to be paid back over various time horizons. The national debt accrues as the US Treasury sells Treasury securities in exchange for cash used to finance the government.

A powerful movement of health workers is going on against privatisation in Pakistan. The government is snatching the basic right of healthcare from the working class in a country where already more than 80 percent of the population has no access to basic health provision. Rather than building new public hospitals and spending more on health services, the government has planned to close the health department altogether and hand it over to the private sector.

The EVA Air flight attendants strike, led by the Taoyuan Flight Attendants Union (TFAU) ended on July 6th, 2019 after over two weeks of struggle. Management slightly relented on their previous hardline attitude as they reached an agreement with the union. From the perspective of the Taiwanese labour movement, this strike will not be the end, but merely an episode that shows the sign of times to come.

China’s National Day, which marks the anniversary of Mao’s proclamation of the People’s Republic of China on 1 October, is always full of pageantry and displays of military strength. But for the 70th anniversary, Xi Jinping pulled out all the stops. The military parade was China’s biggest ever, with new, supersonic unmanned drones and nuclear missiles proudly on display. The message was loud and clear: as Xi himself said, “no force can shake the status of this great nation”.

The Sunday 8 September protest threatens to lead the movement in Hong Kong in a reactionary, openly pro-US imperialist direction. This is extremely dangerous for the movement and must be firmly and unequivocally rejected.

The mass movement in Hong Kong has just won its key demand – the withdrawal of the hated extradition bill that would allow anyone the Beijing government suspects of criminality to be extradited to the mainland. But none of the other four demands, such as for an independent investigation into police brutality, have been won.

Stock markets have experienced a roller-coaster ride over the past two months, as Trump’s erratic trade policy has brought the world economy to the brink of recession. In the latest move, Trump yet again partially postponed the introduction of new tariffs, which he announced two weeks ago. This temporary reprieve will do little to solve the conflict.

Hong Kong’s earthshaking protest movement is entering its second month. Despite increasing pressure from Beijing and the Carrie Lam government, the movement still grows in militancy. It is graduating from bourgeois liberal methods towards the method of class struggle. In many ways, when Carrie Lam emerged from days of obscurity to respond to the general strike, she was right to say that the Hong Kong movement is heading towards a “path of no return.”

Draconian measures by the Modi government regarding Kashmir have sent shockwaves across the whole region. On 5 August, the 70-year status of the disputed Indian state of Jammu and Kashmir was revoked by a presidential order. The existing constitutional arrangement was also revoked suddenly without any democratic process.

As the government in Hong Kong continues to stand its ground, with Carrie Lam out of public sight for days, calls for a general strike have resurfaced in the past weeks. A spontaneously organised general strike on Monday (5 August) was called, along with plans for mass rallies in seven districts. 

Hong Kong’s mass movement against the Chinese state’s attempt to control the territory has been spurred forward by the whip of counterrevolution. On Sunday 21 July, as protestors returned home from demonstrating, around 50 thugs dressed in all-white burst onto a subway train and indiscriminately attacked passengers with poles and other blunt objects. Although the attackers were anonymous and the assault appeared arbitrary, the message was received loud and clear – as was the intention: do not dare challenge the Hong Kong government and its masters in Beijing.

tHong Kong’s massive movement against the Beijing sponsored extradition law is showing no signs of fizzling out, after 500,000 people joined a march yesterday, the anniversary of the handover from Britain to Hong Kong. However, the movement is already at a crossroads, for it has reached a limit of what can be achieved without leadership and programme. 

On 20 June 2019, the flight attendants of Taiwan’s private commercial airline EVA Air went on strike. Under the leadership of the Taoyuan Flight Attendants’ Union, with over 2,300 workers joining the strike, this is already the largest private sector strike in Taiwan since the end of the KMT dictatorship’s martial law in 1987. The strike has thus far caused more than 700 flight cancellations.

A massive ten-and-a-half weeks after Thailand’s first general election since 2014’s military coup, the leader of said coup, Prayut Chan-o-cha, was voted in as Thailand’s prime minister by the new parliament on 5 June. His victory was about as surprising as discovering that the next pope will be Catholic, since the military junta has spent the last five years engineering the Thai constitution to guarantee they are never out of power. The process has been as bizarre as it was farcical.

On 16 June, only a week after the last, million-strong march that took place in Hong Kong, a second mass protest occurred. According to the leading organisers of the Civil Human Rights Front, as many as two million people joined the march yesterday. Judging from the images and figures available, as well as what I’ve seen, it is entirely credible that this protest is larger than that of the previous Sunday.