e-Con e-News

Posted byee ink.July 5, 2026Posted inUncategorizedTags:BBC, Bloomberg, China, economy, export-economies, history, India, politics, Reuters

blog: https://eesrilanka.wordpress.com

‘Before you study the economics, study the economists!’

e-Con e-News 28 June – 04 July 2026

Believing in the BBC, Reuters, Bloomberg and the rest of the English media gang, requires an almost total eclipsing of any brains we are supposed to possess. It requires a daily lobotomy. According to the merchant media’s imperialist masters, Sri Lanka has to blame various make-believe enemies for our current discontent. ‘Oil Crisis’, ‘Foreign Exchange Crisis’, ‘Dollar Crisis’, Export Crisis’, ‘Trade Deficit’, ‘Hormuz Closure’, ‘Iran War’, ‘Zionism’, even ‘Donald Trump’, etc. Anything but capitalism. Anything but the colonial import-export plantation system that forms the basis of the underdevelopment of the economy. Each of the headlined ‘causes’ usually carry a sliver of the truth, but it is not the whole truth. 

     This week, saw the media claim that the USA warned Iran about an imminent Israel attack. They wish us to believe that Israel (read: Jews) rule the USA. Israel is indeed allowed nuclear weapons but no additional Asian, or African or non-Anglo-American country is to be allowed such protection, or must be annihilated. But Israel is another white-settler satellite of England, Europe, and the USA. It could be liquidated at a moment’s notice, Rhodesia-styleee, if real politics so demands, in order to protect their real masters.

     Mounting evidence suggests Sri Lanka is well on its way to becoming a white settler satellite of England, Europe, USA, Israel, India & Japan. The brains are already there, the body will follow. The rumored impending and unprecedented arrest of a former President suggests that, in the absence of any plan to secure the economic, political & military sovereignty of the country, plunging the country into further turmoil, is the standard default option.

     The IMF, the World Bank, the rogue UN agencies, all coordinate their attacks on the country, that appear one after another, or simultaneously. The World Bank, the IMF, the ADB, the so-called independent thinktanks and economists are all of one accord that national resources (aka state-owned enterprises) must be handed over to Wall Street! Outside of such demands that can only weaken the country further, the merchant media, or the supposedly ruling party, cannot name what is going on.

‘In some cases the export economy was but a transitional stage

in the development of a balanced economy. In most instances,

however, it was a stage at which the country remained for decades

or even centuries, while the characteristic pattern of export economy

development blocked further advance to the stage of a balanced economy.’

– ee Random Notes, Importing Economics

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Every economic news item has to reassert the demand that country must export, export, export, making us dependent on the markets and largesse of other countries. Export economy is another term for a slave economy. It is no wonder, the US Department of War can simply name Sri Lanka ‘a partner’ in planning attacks on ships in the ocean about us.

‘Sri Lanka has to face an additional import duty of 15%

on imports to the US, as we are supposedly trading with

countries using forced labour. The government is trying

to find out what these countries are! Has the US classified

some of our important trading countries in this category?’

– Nimal Sanderatne (see ee Economists)

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‘IMF’s verdict on the past 2 years is generous.

Its verdict on what comes next, read carefully, is not.’

– see ee Economists, Passed, but high-risk: what the IMF’s

5th & 6th Review actually says.

This week, saw the USA’s President declare they would block their long-term renewal of the North American trade deal. Media portrayed this as yet another whimsical outburst. But it turns out that the President is merely echoing the demands of the American Iron & Steel Institute and the Steel Manufacturers Association! The US President is portrayed as a wild elephant, but those who know elephants or monkeys or lunatics well, know there is always a method to their madness. And Trump represents the current needs of the capitalist ruling class to reassert and extend their control over the world, by any means, fair or foul.

     One local media editorial headlined ‘Trump reined in’, claiming that the ‘US judiciary & the Congress assert their power and strengthen checks & balances to ensure that the Constitution takes precedence over politics, and the Executive acts with restraint.’ But has the US judiciary, which has allowed corporations to openly steal elections, been restrained? Trump, judiciary, Congress, are creatures of the corporations that rule those countries.

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 This week’s Poson moon had to challenge and transcend the 250^th anniversary of the USA’s settler war on England. A week which saw & endured the exhumation & exhibition in the merchant media of the most hackneyed tripe about ‘a new world’ – certainly not new on 04 July 1776 – and a ‘land of opportunity’. It has certainly been no celebratory occasion for those whose soil was stolen, bodies caged and labor exploited to build that gated paradise, between the northeastern Pacific & northwestern Atlantic. Their ‘Indian Wars’ & ‘Slave Hunts’ have never ended, or ceased within and beyond its shores, and yet offer enlightenment in their own way, of what the world still must overcome (see ee Random Notes, The Indian Wars Continue…)

     Yet this Poson moon also recalls the recorded arrival of Buddhism, a path to human liberation, and also shines on the 105^th anniversary of founding of the Communist Party of China on 01 July 1921, which still reverberates shudders among the slave owners of this world, and exclamations of jubilation among the toiling masses of the world, who see in its rise a counter and antidote to a malignant reality. The CPC now has 101 million members, and offers a studied & steady path to 100 millions more.

     The USA & its allies in Europe, particularly England & Holland, have inflicted massive ‘human disasters’ to colonize much of the world, and continue to do so to this day in numerous guises. (West) Germany still has 171 US military bases and Japan has 98 US bases. Former ‘East Germany’ still has none. Japan’s role as a ‘decisive frontline asset’ in the US war on China & Russia, and the part played by lesser European imperialist powers in their wars on the rest of our world, and their membership in NATO is revealed and carefully tabulated in this ee’s excerpt of the Tricontinental Institute’s monumental survey of the true nature of the enemy confronting us today (see ee Focus). TI’s update ‘Hyper-Imperialism: a Dangerous Decadent New Stage’, provides detailed examples of the attempt to partition our countries, from Africa to India to China. They also detail their economic strength and offer comparative statistics of the USA’s vassal states – which parade as models of innovation & modernity, yet participate in the most horrendous invasions of our world. They strip away the make-believe & masks, to expose the same unquiet skeletons rattling in their clandestine closets.

     ‘To this day, the US still refuses to renounce the first use of nuclear weapons and has unilaterally withdrawn from key nuclear & missile treaties.’. TI also tables the participation of former ‘Eastern Bloc’ countries in invasions of our world, and how they were inveigled into such expeditions through economic subordination, which offers lessons to the thrall Sri Lanka has been subjected to right now.

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The merchant media is full of repetitive tropes, and one of those jargons relates to the business of productivity. Productivity is a euphemism in the media for calling Sinhala workers lazy. This ee Focus examines this word, and traces its origins to the plantation system which forms the basis of the entire economy, which has absolutely no such interest in increasing real productivity. This ee concludes the excerpt of Chapter 11 of SBD de Silva’s (1982) classic, The Political Economy of Underdevelopment.  

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‘In plantations the technology of production, their marketing

strategies as well as the system of remuneration of the agencies

reflected fundamentally the domination of merchant capital

over productive capital in a precapitalist situation.’

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The chapter is entitled ‘Plantations & Technological Stagnation’, and begins by noting the absentee ownership of the plantations had no material interest in advancing the tea trade (it is not an industry) by improving skills etc. It was only interested in maximizing gross revenues, which in turn ‘determined both the technological and the marketing strategies of plantations’. Tea plantations in Japan and the then-USSR have long mechanized tea plucking, but in Sri Lanka no such advances have been allowed.

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Contents:

Export Economies are Slave Economies