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The international concentration of capital invertibly gives birth to international monopoly-finance capital that ensues the emergence of financialization capitalism (see John Bellamy Foster, The Financialization of Accumulation, Monthly Review vol:62, issue 05 October 2010).
Financialization capitalism becomes prominent because the transnational corporations (TNCs) are unable to find sufficient investment outlets for their huge economic surpluses from production, increasingly turn to speculation within the global financial sphere, (see John Bellamy Foster and Fred Magdoff, The Great Financial Crisis (New York: Monthly Review Press, 2009).
In Malaysia, financial capitalism intensifies both class inequality and competition within the capitalist class, as transnational companies (TNCs) and local compradore capitalists vie for dominance, often at the expense of local labour and sustainable development.
For those who might have missed some articles during the week, these were postings and presentations published : 1] csloh.substack: i) Post-Colonial Monopoly Capitalism;
ii) CK Hutchison sales of ports;
iii) China is winning against US;
iv) BRICS is changing global power;
v) Europe in Arms.
2] TikTok:
Financial Capitalism; Post-Colonial Monopoly Capitalism; Financial Capitalism in Malaysia; Revitalising Kampung Baru; PNB capturing capital.
3] MOMENTUM #243.
in solidarity,