31 Dec 2020

Islamic Development Bank (IsDB) Scholarships 2021/2022

Application Deadline: February 2021

About the Award: The Islamic Development Bank funds and implements its scholarship programmes as part of its overall efforts to develop the human resources of its member countries and those of the Muslim communities in non-member countries.

  1. Undergraduate
  2. Master’s
  3. PhD and Post-Doctoral Research Programme
  4. IsDB-ISFD for Technical Vocational Education & Training (TVET) for 21 Least Developed Member Countries (LDMCs):  Afghanistan, Bangladesh, Benin, Burkina Faso, Chad, Comoros, Djibouti, The Gambia, Guinea, Guinea-Bissau, Mali, Mauritania, Mozambique, Niger, Senegal, Sierra Leone, Somali, Sudan, Togo, Uganda and Yemen
  5. IsDB-ISFD Bachelor studies for 21 LDMCs as mentioned in No. 4 above
  6. IsDB-The World Academy of Science (TWAS) Joint Programme for Capacity Building and Technology Transfer

Objectives: The Programmes are important parts of the developmental initiatives led by the Bank since 1983 to foster technology and knowledge sharing among its member countries and Muslim communities in non-member countries. They are designed to attract talented male and female students and in order to build the right competencies required with a special focus on sustainability sciences to empower communities and to assist them in achieving their national and global development plans including the Sustainable Development Goals (SDGs).  The motto is to develop the students/researchers as Good Citizens & Competent Professionals (GCCPs).

Concept:

The IsDB Scholarship Programme is more than just a scholarship programme in the traditional sense of a straight financial assistance to the outstanding and qualified students. It is also a tool for the improvement of the socio-economic conditions of the Member Countries and Muslim communities.It is basically a scholarship programme and a development programme at the same time, since the scholarship is given as an interest-free-loan (Qard Hasan) to the students and as a grant to their communities /countries to which they belong.

The students are required to fulfil the obligations detailed, under each programme, after graduation and gainful employment. Besides, the students are also required to take part in the development of their communities/countries, through their respective professions. The repaid fund will be used to provide scholarships to other students from the same community/country to complement the IsDB Programme and to ensure its continuity in the long run, while the community development services rendered by the students and graduates will contribute to the overall development of the community/country.

Type: Undergraduate, Masters, PhD, Postdoc

Eligibility:

Undergraduate

The Programme is open for academically meritorious students with strong desire to engage in social services and community development after graduation. Candidates MUST ensure that they meet all the criteria of the programme listed hereunder, failing which the Application will not be considered:

  • Must be a citizen of any of the IsDB member countries or Muslim communities in non-member countries.
  • Candidate from non-member countries must be a Muslim.
  • Must have obtained a high school diploma or registered in one of the top 10 public/government universities in his/her own country.
  • Must have minimum of 70% in his/her high school final GPA.
  • Must choose a field of study listed among the approved disciplines of the programme.
  • Must provide evidence of language proficiency in university medium of instruction as relevant. The language proficiency must be supported by a document or certificate, e.g., for English, by a recognized language certificate such as TOEFL, IELTS or passed required level test conducted such as by British Council or equivalent system in French or other language).
  • Must provide certified English or French translation of all documents in case if they are initially in other languages.
  • Must not be in receipt of any other scholarship at the time of application and during study.
  • Must be medically fit and willing to undergo medical tests after selection.

Apply Now for the IsDB Undergraduate Scholarship Programme

Masters:

The Programme is open for academically meritorious students and mid-career professionals from member countries and Muslim Communities in non-member countries. Candidates MUST ensure that they meet all the criteria of the programme listed hereunder, failing which the Application will not be considered:

  • Must be a citizen of any of the IsDB member countries or Muslim communities in non-member countries.
  • Candidate from non-member countries must be a Muslim.
  • Must have minimum of 70% in his/her Bachelor studies’ GPA.
  • Must choose a field of study listed among the approved disciplines of the programme.
  • Must provide certified English or French translation of all documents in case if they are initially in other languages.
  • Must provide evidence of language proficiency in university medium of instruction as relevant. The language proficiency must be supported by a document or certificate, e.g., for English, by a recognized language certificate such as TOEFL, IELTS or passed required level test conducted such as by British Council or equivalent system in French or other languages).
  • Must not be in receipt of any other scholarship at the time of application and during study.
  • Must be medically fit and willing to undergo medical tests after selection.

Apply Now for the IsDB Master Scholarship

PhD and Post-Doctoral Research Programme:

The Programme is designed to help promising and outstanding scholars from member countries and Muslim communities in non-member countries who meet the following criteria:

1. PhD study

  • Have Master’s degree in one of the fields of study of the programme.
  • Have minimum (“Very Good”) academic standing;
  • Preferably have work and/or research experience.
  • Have a research proposal in one of the fields of study of the programme stating its scientific and development relevance to the community / country.
  • Be medically fit and be willing to undergo medical tests after selection.

2. Post-doctoral research

  • Have PhD degree in one of approved fields of the programme.
  • Have minimum (“Very Good”) academic standing.
  • Have not less than two (2) years of experience in the field of research.
  • Must have a record of publications/research in the same field.
  • Have a research proposal in one of the fields of study of the programme stating its scientific and development relevance to the community / country.
  • Be medically fit and be willing to undergo medical tests after selection

Apply Now for the IsDB PhD and Post-Doctoral Research Programme

Eligible Countries: Muslim communities

Number of Awards: Numerous

Value of Award:

Undergraduate & Masters:

The programme covers the following items:

  • Monthly stipend commensurate with the cost of living of the country of study.
  • Tuition fees, if any, subject to IsDB’s approval.
  • Cost of medical treatment at university/government hospital.
  • Economy class return air tickets (once at the time of joining and on completion of study) and installation and equipment allowance for the students selected to study abroad at partnered universities/countries.

PhD study

The programme covers the following items:

  • Monthly stipend commensurate with the cost of living of the country of study;
  • Tuition fees, if any, subject to IsDB’s approval;
  • Cost of medical treatment at university/government hospital.
  • Economy class return air tickets (once at the time of joining and on completion of study) and installation and equipment allowance for the students selected to study abroad at partnered universities/countries.
  • Thesis preparation allowance
  • Scientific papers’ preparation allowance

Post-doctoral research

The programme covers the following items:

  • Monthly stipend commensurate with the cost of living of the country of study;
  • Cost of medical treatment at university/government hospital.
  • Economy class return air tickets (once at the time of joining and on completion of study) and installation and equipment allowance for the students selected to study abroad at partnered universities/countries.
  • Scientific papers’ preparation allowance

How to Apply: Apply below

  • It is important to go through all application requirements in the Award Webpage (see Link below) before applying.

Visit Award Webpage for Details

2021 Data4COVID19 Africa Challenge (EUR 100,000 in funding)

Application Deadline: 5th February 2021

About the Award: AFD, together with Expertise France and The GovLab, is seeking ideas and proposals that (re)use data to provide actionable insight on COVID-19 along the following domains:

Public Heath

  • Tracking Disease Spread
  • Developing Disease Treatment
  • Identifying the Availability of Supplies
  • Monitoring Adherence to Non-Pharmaceutical Interventions

Call for Proposals: 2021 Data4COVID19 Africa Challenge (EUR 100,000 in funding) Economic

  • Supporting Post-Pandemic Re-openings and Recovery
  • Alleviating Pandemic-related Unemployment and Poverty
  • Guaranteeing Protections for Workers
  • Supporting Education and Upskilling
  • Fostering Business and Government Solvency

Socio-Political

  • Understanding Public Perceptions and Behavior
  • Protecting Human Rights and Promoting Accountability
  • Addressing Misinformation

Type: Contest

Eligibility: Applicants must submit their application in English or French.

To be eligible for a grant, the applicant must:

  • Be a legal person (legal entity) or a grouping of such persons (consortium) within the limit of 3 legal persons per grouping;
  • The lead partner of the consortium must be established in one of the African Union countries;
  • International organisations and trust funds are excluded;
  • Have a bank account in the name of the entity;
  • Each member of the consortium must be registered within the Trade and Companies Registry of its country;
  • Be directly responsible for the preparation and implementation of the action and not act as an intermediary. Subcontracting is not allowed;
  • The lead partner’s average cumulative annual turnover over the last two years for which the accounts have been closed must be at least three times the grant application;
  • The general liquidity ratios (current assets/current liabilities) for the last two financial years closed must be at least 1 (one). In the case of a consortium, this criterion must be met by each of its members.

The verification of eligibility is carried out on the basis of the supporting documents requested by the project. The supporting documents requested in this phase are as follows:

  • The statutes or articles of association of each partner;
  • For each member an extract of registration in the Trade and Companies Register (RCS) (less than 3 months);
  • A document specifying the name and function of the legal representative of the entity;
  • A document delegating power of attorney by each member of the partnership to its lead partner.

Where these documents are not provided in English or French, a translation of these documents must be attached for the analysis of the application.

Eligible Countries: African countries

Number of Awards: Not specified

Value of Award: The call offers recipients a contribution between 50-100K in funding. AFD expect between 7 -10 projects will receive awards.

How to Apply: Apply below

  • It is important to go through all application requirements in the Award Webpage (see Link below) before applying.

Visit Award Webpage for Details

2020 Latin America and the Caribbean in Review: the Pink Tide May Rise Again

Roger Harris


The balance between the US drive to dominate Latin America and the Caribbean and its counterpart, the Bolivarian cause of regional independence and integration, tipped portside by year end 2020 with major popular victories, including reversal of the coup in Bolivia and the constitutional referendum in Chile. Central has been the persistence of Venezuela’s Bolivarian Revolution against the asphyxiating US blockade, along with the defiance by Cuba and Nicaragua of US regime-change measures.

The grand struggle played out against the backdrop of the worldwide COVID-19 pandemic, impacting countries differently depending on their political economies.  As of this writing, Venezuela, Nicaragua, and Cuba had COVID death rates per million population of 35, 25, and 12, respectively. In comparison, the death rates in right-leaning neoliberal states of Peru, Brazil, Chile, Colombia, Panama, Honduras, and Guatemala were respectively 1123, 888, 849, 805, 843, 306, and 263. The manifestly lower rates on the left reflected, in large part, better developed public health systems and social welfare practices.

Andean Nations

Venezuela’s continued resistance to the US “maximum pressure” hybrid warfare campaign is a triumph in itself. Hybrid warfare – a diplomatic, propaganda, and financial offensive along with a crippling illegal blockade and attack on the Venezuelan currency – kills as effectively as open warfare.  “It bleeds the country slowly and is much more devastating than direct bombardment,” observes Vijay Prashad of the Tricontinental Institute.

Venezuela featured prominently in the campaign speeches of Trump and Biden, with both promoting regime change, as they vied for the votes of the right-leaning Venezuelan émigré community in Florida, the second largest Latinx group in that critical swing state. US-anointed fake President of Venezuela, Juan Guaidó, received a standing ovation at Trump’s State of the Union address in February – about the only thing the Democrats and Republicans agreed on – but received a far less friendly reception back home.

In March, the US falsely charged Venezuela of narco-terrorism, placing multi-million-dollar bounties on the heads of Venezuela’s President Nicolás Maduro and other officials. A naval armada was sent off the coast of Venezuela under the pretext of interdicting drugs. US government data, however, show the source of the drugs and the countries through which the illicit substances transit to the US are precisely the US client regimes in the region such as Colombia and Honduras.

In May, mercenaries launched an attack from Colombia but were captured, including two US ex-Green Berets. Initially, some Iranian oil tankers evaded the US blockade to bring critically needed fuel to Venezuela, where refining capacity has been impacted by the US sanctions. But later the US seized tankers in international waters, like pirates of yore, having a devastating impact on transport, agriculture, water treatment, and electricity generation in Venezuela.

In another victory in June, federal charges were dropped against the final four embassy protectors, who had defended the Venezuelan Embassy in Washington last year from being usurped by the illegal Guaidó forces. Kevin Zeese, one of the four and a revered progressive movement leader in the US, tragically and unexpectedly died in his sleep in September.

In October, Venezuela adopted controversial anti-blockade measures aimed at facilitating private investment and circumventing the US blockade. The unrelenting US regime-change campaign has had a corrosive effect on Venezuela’s attempt to build socialism. With the economy de facto dollarized, among those hardest hit are government workers, the informal sector, and those without access to dollar remittances from abroad who continue to be paid in the bolivar, now ever more grossly inflated.

Prior to calling the US presidential elections a fraud, Trump made the same accusation regarding the elections for the Venezuelan National Assembly and for the same reason; his preferred candidates would not win. The opposition to the leftist government in Venezuela was divided between an extremist Guaidó faction, which heeded the US directive to boycott the election, and a more moderate grouping opposed to the US blockade, open to dialogue with the Maduro administration, and in favor of US recognition of  the Maduro government. Although turnout was low for the December 6 election, the ruling Socialist Party enjoyed a landslide victory giving them a mandate.

Guaidó, who has become an embarrassment, may be dropped by the new US administration. Biden, however, is expected to “keep using [the] US sanctions weapon but with sharper aim,” as reported by Reuters.

Colombia is the chief regional US client state, distinguished by being the largest recipient of US military aid in the hemisphere and the largest world source of illicit cocaine. With at last seven US military bases, Colombia is a principal staging point for paramilitary attacks on Venezuela. President Iván Duque continues to disregard the 2016 peace agreement with the guerrilla FARC as Colombia endures a pandemic of rightwing violence. In October, the largely indigenous Minga mobilization converged on the capital of Bogotá to protest rampant killings. A national strike followed, called by a broad coalition led by the teachers’ union FECODE. Colombia is the most dangerous country to be a social activist with a leader murdered every other day. The approaching 2022 presidential election could portend a sea change for the popular movement.

Ecuador achieved international notoriety with the streets of Guayaquil littered with dead bodies attributed to mismanagement of the pandemic by President Lenín Moreno. A vice president under leftist Rafael Correa, Moreno turned sharp right after his presidential election in 2017, reversing the anti-imperialist stance of his predecessor. Moreno is prosecuting his former allies and privatizing the state-owned electric and oil companies, while poverty has worsened. Moreno’s popularity rating plummeted to an abysmal 8%, and his administration has been wracked with corruption scandals and popular, anti-neoliberal revolt. Polls for the presidential election, scheduled for this coming February 7, give progressive Andrés Arauz a lead as the Pink Tide may again rise in Ecuador.

Peru. The crises in Peru last year, which saw a succession of corrupt presidents replacing former ones with some sent to prison, were repeated this year. President Martín Vízcarra was dismissed in December, followed by the Manuel Merino presidency of less than a week, followed by the appointment of President Francisco Sagasti. COVID raged in a country, where investment in public health is half that recommended by the World Health Organization, while the youth took to the streets in protest, some demanding a new constitution. A left current is building in Peru as seen with the promising candidacy of Verónika Mendoza in the upcoming April 2021 presidential contest.

Bolivia. Evo Morales returned to Bolivia less than a year after a US-backed coup forced him to escape. Morales had won his reelection bid in October 2019, but the Organization of American States (OAS) conspired with the US and the domestic ultra-right to allege that his victory was fraudulent. Although his reelection was proven fair, the intervention of the OAS gave a patina of legitimacy to the ensuing putsch. Rightwing Senator Jeanine Añez was installed as “interim-president” after Morales was forced to resign by the military and police hierarchy. She presided over two massacres and a campaign of repression against the majority indigenous population and activists of Morales’s party, the Movement Towards Socialism (MAS). A heroic resistance based on strong grassroots organizing by social movements, unions, and the MAS, forced Añez to call a new presidential election, after she had postponed it three times.

On October 18, MAS presidential candidate Luis Arce won with a landslide 55%. The new government has returned to ALBACELAC, and UNASUR – regional bodies founded by Hugo Chávez – but is saddled with a $300M loan from the IMF, made by Añez though not authorized by the Senate. The year closed with the Constitution Court propitiously overruling a domestic law that banned same-sex union as inconsistent with international law, permitting the first legal same-sex marriage in Bolivia.

The Southern Cone

Brazil. Jair Bolsonaro’s second year in office was like the first: dismantling social welfare measures and rewarding multinational corporations, while the Amazon burned and the popular sectors protested. His unscientific belief in coronavirus herd immunity contributed to excessive deaths in Brazil, especially impacting indigenous peoples.

Chile has been in turmoil for most of the year with protests against their corrupt President Sebastian Piñera, incidentally the richest person in the country. Finally, on October 23, the rightwing politicians were forced to allow a plebiscite, which passed with a resounding 78% to replace the constitution imposed on the country by the dictator Pinochet. The vote was preceded by a week of massive demonstrations commemorating the first anniversary of the popular struggle against the neoliberal order. Elections for Constituent Assembly members are scheduled for April and presidential elections are scheduled for November, with Communist Eduardo Artés now leading in the polls.

Argentina. The new President Alberto Fernández and VP Cristina Fernández are slowly recovering Argentina after four years of rightwing governance. On October 17, crowds celebrated Peronist loyalty day in support of the center-left government.  Emilio Pérsico said their movement is revolutionary because “it gave power to those who had no power and incorporated the workers into politics.”

Caribbean

Cuba’s Henry Reeve International Medical Brigade has been nominated for the Nobel Peace Prize for its medical missions combatting the pandemic across the world. Cuba is also producing COVID-19 vaccines and is in the process of distributing them to needy countries, all the while suffering under an intensified US blockade. While decrying foreign interference in US internal affairs, the Trump administration has funded some 54 regime-change groups in Cuba through the USAID and the National Endowment for Democracy. The economy has been severely impacted by the pandemic and tightening of US sanctions, forcing Cuba to take pragmatic economic adjustments.

Puerto Rico, a spoil that the US empire gained in the first war of imperialism, the Spanish-American War of 1898, is today one of the few outright remaining colonies in the world. Emblematic of the neglect of Puerto Rico was the physical collapse on December 1 of the Arecibo Observatory’s giant radio telescope, once the largest in the world and source of pride. Nearly 60% of the island’s children live in poverty.

Haiti has been in nearly continuous popular revolt against US-backed President Jovenal Moïse, who has ruled by decree after cancelling elections. Government repression has been violent and intense, which is ignored in the western press.

Central America and Mexico

Central America was battered by not only the pandemic but two devastating hurricanes that hit just ten days apart in October. As conditions further deteriorate, migrants, especially from the US client states of El Salvador, Honduras, and Guatemala, continue to flee to the US. Migrants and asylum seekers, who were then deported back from the US, have been killed, raped, or tortured when they were forced to return, according to human rights groups.

El Salvador. In a flagrant overreach of executive prerogative, President Nayib Bukele sent the military on February 9 into the Legislative Assembly to influence a vote on his proposed security program. Bukele, formerly associated with the left FMLN party, has now turned right, militarizing the border between El Salvador and Honduras to enforce the “safe third country agreements” and joining the pro-US interventionist Lima Group.

Guatemala. Angry citizens burned down Guatemala’s congress building on November 21, after a record high budget passed giving the legislators substantial raises and rewarding multinational corporations but cutting social welfare. A national strike followed demanding the resignation of rightist President Alejandro Giammattei, a former director of the Guatemalan penitentiary system.

Honduras. Eleven years since the US-backed coup overthrew the democratically elected President Manuel Zelaya, the country has devolved into a state where current President Juan Orlando Hernández is an unindicted drug smuggler, the intellectual authors who ordered the assassination of indigenous environmental leader Berta Cáceres run free, Afro-descendent people and women are murdered with impunity, gang violence is widespread, and state protection from pandemic and hurricanes is grossly deficient.

Costa Rica. Workers staged a week-long national strike in October against the neoliberal policies of President Carlos Alvarado, who then ignored the people and resumed negotiations with the International Monetary Fund (IMF), sparking more popular demonstrations. Despite intervention by the Catholic Church to diffuse the protests, the rebellion against destructive tax increases, cuts to public services, and privatizations “has changed the political dynamics in a country which was formerly seen as ‘the Switzerland of Central America,’” according to journalist Rob Lyons.

Nicaragua. Under the Sandinista government of President Daniel Ortega, Nicaragua enjoys: “reduction of poverty and extreme poverty, eradication of illiteracy, the highest economic growth in the region for a decade, free quality education, change of the energy matrix to 77% renewable energy, [and] from 90th place to number 5 worldwide…in reducing the gender inequality gap.”

Given this “threat of a good example,” US efforts to isolate Nicaragua economically to achieve regime change continued. Reports by the PBS NewsHour, the Center for Investigative Reporting’s Reveal, and the Oakland Institute of alleged abuses to the indigenous and Afro-descendent communities provided evidence in support of boycotting the import of “conflict beef,” which would have had a major impact on the Nicaraguan economy. After the allegations were exposed as unsubstantiated, the accusers hypocritically claimed their actions resulted in the Nicaraguan government correcting itself.

The US State Department has already called the Nicaraguan presidential election a fraud even though it is not scheduled until November 2021. After Venezuela and Cuba, Nicaragua is the hardest hit country in Latin America by US sanctions.

Mexico is the second largest economy in Latin America, the eleventh in the world, and the US’s top trade partner. After decades of right-wing rule, left-of-center Andrés Manuel López Obrador (AMLO) and his new MORENA party have been in office for two years.

A little over a year ago, Mexico flew then President Evo Morales out of Bolivia, when his life was threatened by a rightwing coup, and gave asylum in the Mexican Embassy in La Paz to other deposed Bolivian officials. Mexico has also defied the US blockade of Venezuela, and AMLO has called for the release of whistleblower Julian Assange.

Last spring, AMLO closed factories in response to the pandemic except for those supplying essential services. Workers went on strike when some factory owners defied the government closures. The US intervened forcing border maquiladoras that produce goods for the US military to open.

With high COVID infection rates, AMLO has been criticized for what some characterize as a lax and delayed handling of the health crisis. He was also confronted by protests from the extreme right nationalist coalition FRENA, demanding that the “Bolivarian Dictator” must resign, while a rightist plan called Project BOA outlined a strategy for ousting him from office.

In July, AMLO made an official state visit to Washington. “Under Trump, Mexico has had to navigate abrupt demands to stem illegal migration or face trade tariffs.” As the nineteenth century Mexican President Porfirio Díaz famously lamented: “Poor Mexico, so far from God and so close to the United States.”

Campaign for 2021

UN Secretary General Guterres’s plea for a “global ceasefire,” ever more necessitated by “the fury of the virus,” has been ignored by the US. Meanwhile, some 30 nations worldwide, including Venezuela, Nicaragua and Cuba, are suffering under suffocating US sanctions, which are a form of hybrid warfare. These unilateral, coercive measures, impacting a third of humanity, are illegal under the UN Charter. As the “liberator” Simón Bolívar presciently observed in 1829: “The US appears to be destined by providence to plague the Americas with misery in the name of freedom.”

30 Dec 2020

Germany’s DAX stock index feasts upon mass death

Johannes Stern


After the holidays, mass deaths continue in Germany and around the world. On Tuesday, the Robert Koch Institute (RKI) reported 852 coronavirus deaths, and on Wednesday morning a new record number of 1,129. This makes December by far the deadliest month since the beginning of the pandemic. In Germany alone, more than 15,500 people are officially recorded as having died of coronavirus between 1 and 28 December, more than twice as many as in November (6,231 deaths) and April (5,708 deaths). By the end of the year, the death toll will have risen to about 35,000.

Such a scale of death is usually only encountered in times of war. Worldwide, almost 1.8 million people have now died from COVID-19, including more than half a million in Europe and about 350,000 in the USA. Since mid-March, an average of more than 6,000 people have succumbed to the virus. In the course of World War I, the average number of fallen soldiers per day was about 6,060. Even though the ruling class is at pains to play down the dramatic scale of the situation, reports of overcrowded morgues and crematoria can hardly be suppressed.

The medical situation is dramatic. In hospitals working at full capacity, doctors, nurses and orderlies are desperately trying to keep thousands of patients from dying due to suffocation. Due to the brutal austerity policies of the last decades, there is not only a lack of staff but often also of necessary medical equipment. The social situation can also only be compared to the great crises in the first half of the 20th century. In the US, 50 million people are food insecure, and since March, 73 million people have registered as unemployed. In Germany, the poverty rate reached an all-time high of 15.9 percent (13.2 million people) last year. The pandemic has further exacerbated social inequality.

On the other hand, there is a thin layer at the top of society that has become unbelievably wealthier and are feasting on death and social misery.

After peaking on Monday, the German share index (DAX) reached another record high on Tuesday, temporarily exceeding 13,900 points. The closing level of 13,761 points was only about 30 points below Monday’s all-time high (13,790 points). Other German stock indices also set new records on Tuesday: the MDAX reached a new high of 30,912 points, the SDAX 14,766 points.

The German stock market has thus not only fully recovered from the interim price slump at the beginning of the pandemic but ended the year with a significant uptick. At the end of 2019, the DAX stood at 13,249 points, meaning an overall increase of almost four percent for 2020. The MDAX rose by more than nine percent and the SDAX by over 18 percent.

The stock market bonanza amid the pandemic means the super-rich have further increased their already astronomical fortunes. According to calculations by the consulting firm PwC and the Swiss bank UBS, the total assets of the more than 2,000 dollar-billionaires worldwide had risen to the record value of about €8.7 trillion by the end of July. The sum is more than twice as high as the total annual economic output of Germany (about €3.5 trillion).

In Germany, the net wealth of the ultra-rich rose by almost €80 billion, to €486 billion, between March and July. This is roughly equivalent to the entire federal budget for the coming year and almost 14 times the 2021 health budget (€35.3 billion). The number of super-rich has also continued to explode. Between January and June, the number of US dollar millionaires in Germany rose by another 58,000, while the number of billionaires increased from 114 to 119.

There is a direct link between the record profits and the record deaths; both are the result of the “profits before lives” policy pursued by the ruling class since the outbreak of the pandemic.

In March, stock markets around the world collapsed after governments, under popular pressure and spontaneous strikes, were forced to order lockdowns and partially close schools and businesses. However, the measures were then mainly used to organise the biggest financial redistribution in history, from the bottom of society to the top. Within a few weeks, trillions were transferred to the accounts of the banks, big corporations and the super-rich.

When the grand coalition of the Christian Democrats (CDU/CSU) and Social Democrats (SPD)—with the support of all the parties in the Bundestag (parliament) and the trade unions—whipped the so-called Coronavirus Emergency Package, worth billions, through parliament on 25 March, the World Socialist Web Site commented: “The class character of the measures adopted is obvious. Their main purpose is to safeguard and increase the wealth and profits of the big corporations and financial oligarchs.”

No sooner had the money been transferred than stock market prices rose again. At the same time, an aggressive campaign began to reopen schools and factories as quickly as possible to squeeze these gigantic sums back out of the working class. Politicians and the media launched a fascistic debate about how many lives should be sacrificed to the interests of business and profit. Bundestag President Wolfgang Schäuble (CDU) provocatively declared that human dignity did not necessarily include the right to life and was thus not “absolutely” protected by the Constitution.

Now, of all times, the stock market rally is continuing during the two deadliest months of the pandemic. Between 29 October and 29 December, the DAX rose by more than 2,000 points to its current record level. The reason is as simple as it is brutal: the focus of the current pandemic measures is once again not protecting lives, but corporate profits. Despite the skyrocketing death toll, workplaces remain open and the cost of the pandemic is to be passed on to the working class again in the New Year.

“Public debt means... of course, burdening future budgets” and “the need to pay it back,” emphasised Chancellor Angela Merkel (CDU) in her last government statement. At the same time, she categorically ruled out any participation in such repayments by particularly wealthy layers through a wealth levy. Next year’s budget is entirely tailored to the interests of the financial oligarchy and German imperialism. While there are massive cuts in health and education, the budgets for defence and domestic security are increasing.

The WSWS has defined the pandemic from the beginning as a trigger event, an “accelerant” that quickens the already far advanced economic, social and political crisis of the capitalist world system. By the end of the year, this process is well advanced. As in the first half of the 20th century, the experience of millions of workers and youth is that capitalism means, above all, profiteering and death. A socialist programme against mass death and the politics of the pandemic racketeers is a matter of life and death under these conditions!

The Sozialistische Gleichheitspartei (Socialist Equality Party) demands the immediate closure of all non-essential factories and schools. All workers must receive sufficient income to ensure a decent standard of living until it is possible to return to work. Small businesses facing economic collapse must be given real support.

The billions hoarded by the pandemic profiteers, accumulated by looting the state coffers, must be retrieved to be used to meet social needs. The giant corporations and financial institutions must be transformed into democratically controlled public utilities.

Tens of thousands face eviction after Chinese rental company collapses

Lily Zhao


As winter approaches and temperatures reach below freezing point across many cities in China, hundreds of thousands of people who rented through Danke Apartment, one of the largest rental platforms in China, face potential eviction. Tenants across 13 cities where Danke has established operations, including major ones like Beijing, Shanghai and Shenzhen, have either already been evicted or are living in uncertainty.

The Danke Apartment team rings the Opening Bell to celebrate their IPO on the New York Stock Exchange (Source: NYSE Twitter)

The collapse of Danke provides an insight into the far broader housing crisis in China confronting workers and young people, and exposes the profiteering and parasitic character of layers of capitalists in China.

Unlike traditional apartment leasing business where tenants usually pay monthly rents directly to landlords, the service provided by Danke involves four parties. Danke, as the rental agency, pays monthly rents to individual landlords and then sublets these apartments to tenants. It encourages its tenants to pay a full-year’s rent in advance by offering a tempting discount, compared to paying by the month or by the quarter.

Even with the discount, however, a whole year’s rent is a huge expense for most people. Danke encourages them to take out loans with micro-credit companies to pay a full year’s rent to pay Danke while paying back the loan every month or quarter. Danke even cooperates with these micro-credit companies and pay the monthly interest, further encouraging their tenants to take out loans. More than 60 percent of Danke’s tenants are involved in rent loans.

As a result, when Danke experienced a major breakdown in its complex financial operations due to the impact of the COVID-19 pandemic and lockdowns in January and February, it led to a social catastrophe for its landlords, tenants and employees. According to the Chinese journal Caixin, Danke has an overall debt of $520 million right now, including $171 million in unpaid rents to landlords.

Since early November, up to a hundred or so landlords and tenants gathered at Danke’s office in Beijing to file complaints, demanding rents, or trying to terminate leases. Most landlords have not received rents for at least a month. At the Beijing office, many had to stand in lines for hours on multiple days in a row, hoping their complaints will be resolved. Even if landlords are willing to forgo rents in arrear so they can reclaim their apartments, their contracts with Danke cannot be terminated until the tenants move out.

The result has been forced evictions, and in some cases, violent confrontations between landlords and tenants. For tenants, their loan contracts with micro-credit companies do not terminate automatically if they are evicted. In other words, they still have to make loan repayments after losing their apartments. Moreover, trending posts on social media have revealed that many tenants have been evicted on a very short notice, and had to spend the night sitting in 24-hour fast food stores or sleeping in their cars.

Tragically, a young tenant fell to death on December 3 from an 18th floor apartment in Guangzhou in what was likely a suicide. Days before the incident, the landlord had put a note on his apartment urging him and his flatmates to move out within a week. Their landlord has not received rents from Danke for over two months. The young person just graduated from college this year, was still looking for a job, and took a full-year’s loan to pay his rent.

For those still in their apartments, their living conditions are poor. As early as in September, tenants in most of the 13 cities where Danke operates reported that their internet had been cut off. A large number of maintenance complaints about leaking pipes and water and power stoppages were left unattended. Some tenants found out that Danke has not paid the energy and water bills at their apartments for as long as two years.

Even if tenants found alternative housing, they cannot easily terminate their lease with Danke. Its offices in Hangzhou and Chengdu are already empty. On Black Cat, a platform for customers to submit complaints, Danke has received more than 30,000 complaints, a proportion of which are from the recent few months. Tenants complained that Danke’s service hotline is always busy. Some managed to terminate their leases using Danke’s online system, but deposits and previous cash back benefits in their accounts could not be cashed out.

Danke’s tenants are overwhelmingly young people who are attracted by the more diverse work opportunities in big cities. According to Danke, the average rent for one of its single bedrooms with shared public space (kitchen, bathroom, etc.) is around 2,788 RMB (about $US400) per month. This price is attractive for young white-collar workers and college graduates who have just started their careers and earn a few thousand a month.

The collapse of Danke has turned their lives upside down. One person posted on social media: “My landlord came this morning [to evict me]. We tried to negotiate, but did not reach an agreement. The landlord called the police, but the police said we should seek to resolve it with Danke.… When I got back to the apartment [from the police station] at 1 pm, power and internet have already been cut off. It’s a really windy day in Chengdu today. There’s not much sun out there. My heart has gone cold as well.”

Service workers working for the company were also hard hit by the collapse of Danke. On November 9, a number of maintenance workers went to Danke’s Shanghai office, demanding their wages.

One worker said it is now impossible for him to live in Shanghai anymore because he had been paid nothing in the past four months. Another said Danke already owed him more than 30,000 RMB ($4,285), which should have been enough to sustain his family in the countryside for at least three years.

However, even before these workers reached the office in Shanghai, the company had already called the police. Two workers were taken away by the police with no real explanation. It was also reported that Danke had already dismissed its apartment cleaning team.

Under pressure from tenants, workers and landlords, Danke eventually made a response on November 16 through its official Weibo (a Twitter-type social media platform) account. The company acknowledged its financial crisis, but said, “We are not in bankruptcy and we will not run away.” The micro-credit company with which Danke collaborated, WeBank, announced on the same day that tenants’ credit score would not be affected by Danke’s collapse until at least March 31 next year.

However, neither of these announcements are reassuring. More tenants are being evicted every day, and many who have terminated their leases reported that they still receive calls from WeBank, urging them to pay their loans on time.

Danke’s business model is extremely risky. In order to occupy a larger share of the apartment leasing market, Danke offered landlords high rents while subletting to tenants with a lower price. More than 400,000 apartments have been collected by Danke since its founding in 2015.

In other words, Danke actually loses money from each transaction. However, in each transaction, Danke acquires a whole-year’s rent from the micro-credit company but only needs to pay the landlord one-month at a time, thus retaining a large amount of cash at hand. This constant cash flow, rather than profit from each transaction, has been what the company bases its business on. During the first three quarters of 2018 and 2019, payments from micro-credit companies made up 88 percent and 80 percent of the company’s entire income respectively.

This cash-flow-based model requires a constant expansion of Danke’s business, where payments from new tenants are required to maintain its finances. As an expert from a real estate broker trade association pointed out, an operating strategy like this requires that at least 90 percent of Danke’s apartments to be sublet. By the September 2019, Danke’s occupancy rate was 87 percent.

On January 17, 2020, Danke became a publicly-listed company on the New York Stock Exchange, which, according to its prospectus, aimed to “continue to deploy capital to grow and source new apartment units.”

Expansion cannot go on indefinitely, and Danke was well aware of the risks. In fact, Danke has never made a profit since its founding in 2015 and has been constantly in debt. In the same prospectus, the company acknowledged that they incurred a net loss of hundreds of millions dollars in 2017, 2018, and the first three quarters 2019. They also had a negative cash flow during the same periods.

As the financial collapse of Danke produced a serious social crisis, the Chinese government gave the company a token slap on the wrist. The state-owned CCTV-2 broadcasts on economic programs declared that Danke had violated regulations and relied too much on loans. In late December 2019, the Ministry of Housing and Urban Development announced a new regulation mandating that the income of apartment rental companies from loans should not exceed 30 percent of its total income from rents. However, the new regulation allowed until the end of 2022 for these companies to adjust. No measures have been taken to address the immediate difficulties facing tens of thousands of tenants, workers and landlords.

The collapse of Danke is a manifestation of a far broader housing crisis in China. As the housing prices have skyrocketed in the past decade in major cities, it has become ever more impossible for young people whose families do not live in major urban areas to buy an apartment. Even those who manage to make a down payment, usually with financial assistance from their parents, face the heavy burden of large mortgages.

These high housing prices have led to the rapid expansion of the apartment rental market, with companies like Danke exploiting the situation to profiteer at the expense of the immiseration of workers and young people.