Economy

Since October, dozens of social leaders have been shot and eight killed in the struggle between Spanish-based oil and gas multinational Union Fenosa and communities in the west of the country. On October 24, Victor Galvez was shot 32 times as he left his office, where he was meeting with neighbours whose electricity supply had been cut off by one of Union Fenosa’s subsidiaries. Opposition to Union Fenosa began with the privatisation of electricity supply in 1999, with the multinational as the main beneficiary.
The tremendous success of the April 19-22 World Peoples Summit on Climate Change and Mother Earth Rights held in Cochabamba, Bolivia, has confirmed the well-deserved role of its initiator — Bolivian President Evo Morales — as one of the world’s leading environmental advocates. Since being elected the country’s first indigenous president in 2005, Morales has continuously denounced the threat posed by the climate crisis and environmental destruction. Morales has pointed the figure at the real cause of the problem: the consumerist and profit-driven capitalist system.
“There are two ways forward: Either save capitalism, or save Mother Earth”, Bolivian President Evo Morales said, stressing that this was the choice facing governments at a May 7 press conference in New York. There, he discussed the outcomes of the 35,000-strong World People’s Summit on Climate Change and the Rights of Mother Earth with United Nations Secretary-General Ban Ki-moon.
Perhaps no other sector better exemplifies the challenge the Bolivian government faces in lifting the country out of the poverty and dependency afflicting South America’s poorest nation than its all-important mining industry. Mining minister and former miners’ union leader Jose Pimentel told Green Left Weekly: “Bolivia has been a mining country for more than 500 years, ever since the Spanish came and discovered the legendary wealth [of the silver mines] of Potosi.”
Green Left Weekly — Australia’s leading non-corporate newspaper — has an ambitious target to raise $300,000 for it’s fighting fund this year. This is the amount needed to ensure we can cover all the costs associated with research, production and distribution. It’s no small thing to produce such a quality publication.
Under the new constitution approved in January 2009, the state now controls all minerals, metals, precious and semi-precious stones in the country. While respecting previously granted concessions to private companies, it has restricted new concessions to joint ventures with the state In 2007, the Bolivian government returned 100% control of the Huanuni tin mine to the state-owned Comibol. On May 3, the government nationalised the Glencore-owned antimony smelter, which has been out of operation for more than two years.
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Six US banks control 60% of GDP “They are Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo. They have assets equivalent to 60 percent of our gross national product. “And to put this in perspective, in the mid-1990s, these six banks or their predecessors, since there have been a lot of mergers, had less than 20 percent. Their assets were less than 20 percent of the gross national product.”
On May 6, women gathered in Melbourne dressed in pyjamas and hair curlers, ready for the Mothers’ Day breakfast in bed that they never get because of poverty and the stress of being a single parent. The action was to call for an end to poverty for single mothers. Council of Single Mothers and their Children (CSMC) project worker Kerry Davies told the protesters that “single mothers and their children are Australia’s poorest families and are now the single highest group of homeless people in this country”.
On April 29, more than 10,000 union members and others organised a protest on Wall Street in New York organised by the AFL-CIO union federation, Alternet.org said the next day. “The banners declared ‘Wall Street: Never Again’ and ‘Less Audis, More Audits’. Almost to a one, they echoed the clear policy demands of the day: regulatory reform, new taxes on banks and speculators, and a jobs bill.”

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