Globalization of Production
Government debt: a new stage in the global financial crisis
By Nick Beams, February 9, 2010
The tremors on global financial markets signal a new stage in the financial crisis brought on by fears of vast social struggles as governments attempt unprecedented cuts in jobs, wages and social serv...
Sovereign debt fears signal new stage of global crisis
By Barry Grey, February 6, 2010
Stock markets in Europe and Asia fell sharply Friday in the second day of a near-panic selloff fueled by fears that the debt crisis facing weaker European economies will throw the world economy into a...
World Economic Forum: False hopes in a China-led recovery
By John Chan, September 18, 2009
Corporate leaders and officials gathered in Dalian to pay homage to China as the bright spot of global capitalism. However, closer examination reveals that the Chinese economy is just as fragile as it...
US-China trade tensions sharply escalate
By John Chan, September 16, 2009
In a move that threatens to trigger a major trade conflict, US President Barack Obama last Friday signed an order to impose a 35 percent tariff on Chinese-made tyre imports over the next three years.
Stock market gyrations reflect fears of protracted global slump
By Patrick O’Connor, August 19, 2009
Stock markets in the US and internationally declined sharply Monday before recouping some of their losses on Tuesday. The volatility reflects concerns that despite recent GDP growth reported for sever...
Economic nationalism on the rise in Europe
By Stefan Steinberg, August 15, 2009
Since passing anti-protectionist resolutions at the last G20 summit, European governments have enacted a series of protectionist measures aimed at securing the interests of their own domestic banks an...
Arrest of Rio Tinto executive points to deepening economic crisis in China
By John Chan, July 15, 2009
The arrest of Stern Hu, Rio-Tinto’s China iron ore executive, signals a more aggressive policy by the Chinese regime toward its economic rivals amid an ongoing slump in export orders and rising unem...
G8 leaders fail to reach agreement on global crisis
China, France, Russia challenge supremacy of US dollar
By Stefan Steinberg, July 11, 2009
This year’s G8 summit in Italy reflected the inability of the world’s leading capitalist nations to achieve any consensus to deal with the worst economic crisis since the 1930s.
G8 summit in Italy dominated by deepening financial crisis
By Stefan Steinberg, July 9, 2009
The G8 summit taking place this week in Italy mirrors the growing political discord and rivalry between the major powers.
No economic “green shoots” in world trade and transport
By Jeff Lassahn, July 1, 2009
This massive contraction in trade is shown in the falling revenues and increasing layoffs of global transport companies. Across the world, ships, airplanes, trucks, and railroad equipment with no carg...
Japan’s economy suffers record contraction
By Peter Symonds, May 22, 2009
The Japanese economy shrank by 4 percent in the first quarter of 2009 or an annualised rate of 15.2 percent. The plunge in GDP was the worst since records began in 1955 and the largest of any major in...
World economy in freefall
By Andre Damon, May 22, 2009
Governments of the world's major economies announced huge first-quarter contractions in recent days, as real indicators of the economic crisis continued to worsen.
