JOHN McDONNELL calls today for a revival of socialist internationalism, arguing that “global financial institutions” have given international co-operation a bad name.

“Not the threat of a global downturn, nor the threat of environmental breakdown, nor the human challenges threatened by accelerating automation, can be addressed by countries acting alone,” the shadow chancellor is expected to say at the launch of the Institute for Public Policy Research’s Centre for Economic Justice.

“There is an urgent need for those of us on the left — in all countries — to work together in rescuing the concept of internationalism from how it has developed in recent decades,” he will say. 

“We are living with the consequences of a world in which international co-operation has come to reflect the neoliberal economic paradigm, just as so many other aspects of life have done.
 
“I don’t need to remind you of the unforgivable actions of the European institutions and the IMF towards Greece when it faced a crisis they were complicit in creating.
 
“The role of the global financial institutions in pushing a particular economic model is now well established.
 
“It’s hypocrisy to talk about tackling tax evasion at home while doing nothing about British tax havens that suck wealth out of other countries. It’s hypocrisy to wage and fund wars across the globe and refuse entrance to refugees from those wars.
 
“Neoliberal internationalism hasn’t worked for those in poorer countries. Socialist internationalism is about co-operation and solidarity.

“The principles of that co-operation must be agreed across borders.
 
“It’s up to us on the left to make the case for internationalism which the liberal so-called centre has done so much damage to in recent decades.”