"In each historical period, the class which represents the most advanced mode of produc­tion also represents the nation and has the potential to become its standard-bearer. In Europe, for example, the bourgeoisie at one time represented the most advanced mode of production, and therefore carried the banner of national democracy. It headed the bourgeois revolution and, having overthrown the decayed feudal system, set up the capitalist system based on the principles of bourgeois nationalism and democracy. But after capitalism grew into imperialism, the bourgeoisie began to hinder the development of their nations and took to enslaving other peoples, fully losing their leading historical role."