After the 2008-9 recession destabilised the country’s economic model, which had been based on high levels of exploitation and intense investment in sectors producing for export markets, growth became weaker. In the latter case, as International Socialism has argued, a war of national defence on the part of Ukrainians is entangled with a clash between Russia and the NATO military alliance. In other words, a combination of ecological factors and inter-imperialist tensions helped to drive the economic crisis. Joseph Choonara is the editor of International Socialism. He is the author of A Reader’s Guide to Marx’s Capital (Bookmarks, 2017) and Unravelling Capitalism: A Guide to Marxist Political Economy (2nd edition: Bookmarks, 2017).

Source: The Guardian January 03, 2023 19:55 UTC