Friday, April 29, 2011

Rodong Sinmun on Economic Crisis in Capitalist Countries-KCNA

Rodong Sinmun on Economic Crisis in Capitalist Countries

Pyongyang, April 28 (KCNA) -- The economic crisis in the capitalist countries is by no means a phase of the course of business cycle which had been generally called an economic crisis in the past but an overall economic crisis accompanied by economic chaos and fluctuation deepening in all aspects, says Rodong Sinmun Thursday in a bylined article.

The worst is the financial crisis, it notes, and goes on:

The present financial crisis is rapidly spreading with the greatest destructive power in the financial history of capitalism.

The destructive power is shaking the financial ruling system of the capitalist world to its very foundation and bringing about a final collapse of the U.S. dollar-dominated system.

The overall economic crisis in the capitalist countries is bringing serious consequences to the world economic development and international relations.

Contradictions and discord are festering between the U.S. and other capitalist countries and between the developed capitalist countries and developing countries as the economic crisis is gaining in depth.

The U.S. imperialists, now in the grip of the economic crisis, are seeking a way out of it in igniting a war of aggression against the anti-imperialist independent countries and, furthermore, are working hard to unleash a new regional war, a global war. But such act is nothing but bluffing and it will only precipitate their doomsday.

The serious economic crisis sweeping the capitalist world, acute confrontation among big powers, the struggle of the toiling masses in the capitalist countries for vital rights and freedom and the intensified anti-imperialist struggle of the people of developing countries are the natural consequences entailed by the overall economic crisis in the capitalist countries.

It is an important way for warding off the baneful impact of the above-said economic crisis to develop a self-supporting national economy, destroy the outdated and unfair international economic order and build instead a new fair one, concludes the article.