Brazilian workers are calling for internationalist brigades to defend Venezuela from US attack, reports WT WHITNEY JR
FOR 40 years or more, governments holding fast to neoliberal principles have set in train what US Treasury Secretary Janet Yellen rightly called a “race to the bottom” on global taxation, as countries deluded themselves that lower corporation taxes would mean more investment and more growth.
This deal is the clearest sign yet that the days of neoliberalism — the belief in privatisation, low taxes for the rich and subservience to the market — are finally drawing to a close.
Giant corporations were able to exploit the rules on international taxes, originally drawn up for a very different world in the 1930s, to almost pick and choose where and how much tax they paid.
It’s the dramatic rise of China with its burgeoning economy that has put the Trump administration into a frenzy – with major implications both at home and abroad, argues MICHAEL BURKE



