Two of the issues at the centre of political debate over the last year have been the unfolding credit crisis in North America and its impact on the Canadian and American dollars and the continued emergence of China as a new pole of economic and political power in the capitalist world economy. The new issue of Relay (Number 21 for January-March 2008) takes up these debates. Fletcher Baragar and Ingo Schmidt contribute essays on the turmoil in financial markets and their implications for American power and the Canadian economy. Bryan Evans and Greg Albo add their assessment of the first two years of the Harper government.

It is now thirty years from the start of the market reform process in China with the consolidation of power of Deng Xiaoping in 1978. Relay collects contributions from Cathy Walker, Etienne Cantin, Ken Kawashima, Kanchan Sarker, Laam Hae and others on the impact on unions and workers in China, new cultural developments and relations with other parts of the world.

Finally, Relay publishes an important assessment of the Venezuelan Bolivarian process by Robin Hahnel, one of the most innovative writers on democratic economies and social transition today.

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