half was accounted for by debt rescheduling.
By contrast, the German government pumped $96,000 million into its new caster states last year, a sum which has only scratched the surface of the massive social problems there.
Commentators now speak freely of the cast as Germany's Mezzogiomo", a reference to Italy's impoverished south which to this day requires massive subsidies from the industrialised Investment Direct investment in caster Europe has been limited 1o0. The 1992 total of $3000 million was well up from the 1990 figure of £600m.
But it represented just 1.5 per cent of world investment flow, and even then, 90 per cent of this money went to Hungary and the Czech republic.
Meanwhile, Russia's net material product fell by 19 per cent last year, and 29 per cent of the population is officially classed as living below minimum subsistence levels. In the Baltic StacS, output was down anywhere between 28 and 44 per cent.
The only hope for real change lies with working class struggle That's why the current IG Metall strike in east Germany has the potential to become rather WORLD NEWS more than a wages dispute.
The labour movements of the west should be organising practical solidarity with the east. of a rather different kind from that envisaged by Major. The far left should also ensure that fledgling revolutionary socialist currents, such as NRE. Polish section of the Fourth International, get all the assistance we can provide.
ECE concludes: "When debt servicing and other income payin the balance against capital inflows, there wes a net out ow from most of the cas: European countries in Or to put in plain English, imperialism nas arcady started bleeding them in much the same way as it does Africa. What price cicar and inescanable morai duties now, Mr Major?
SOCIALIST OUTLOOK No. 43 May 29 1993. Page 14 A regular look at the world of business, compiled by INSIDER DEALER Norman was also an employee at the secretive bank degree students at the Unifailure of its official leadership. war Tory high command. Facing mass unemployment, rampant employers equipped with savage anti-union laws, and a war on hard-won education, health and welfare services, the working class in Britain faces a real crisis - an avoidable crisis created by the historic Socialist Outlook exists to fight for a new type of working class leadership, based on the politics of class struggle and revolutionary The capitalist class, driven and politically united by its own crisis. its requirement to maximise profits at the expense of the workers. has been given determined, vanguard leadership by a brutal classThe Tory strategy has been to shackle the unions with legislation, and to fragment and weaken the resistance of the working class and