Privatisation and ‘‘structural adjustment’’ will be a common phenomenon in two of the largest economies in Asia, China, and India. Presently these two countries are undergoing ambitious economic reforms based on creating a dynamic market economy. Often there is insufficient or callous attention to workers’ interests when the planners of these policies implement the so-called “‘reforms’’.
For the last six months, columnists and editors for many publications around the world have been trumpeting the break in the Cold War as a historic victory for capitalism, and, they say, democracy. The euphoria has at times reached almost juvenile heights, but more disturbing than that is the fact that it seems blind to reality.