A report issued by the British-based international aid agency Oxfam last week has highlighted the rapid escalation of economic and social inequality in the Asia-Pacific region during the COVID-19 pandemic, documenting how a handful of the ultra-wealthy have directly benefited from the suffering of millions. The investigation found that 20 new “pandemic billionaires” had been created over the past two[Read More…]
Data from the world’s major economies, released over the past few days, show that the “synchronised” global slowdown pointed to by the International Monetary Fund is worsening. In its report on the latest figures from China, the world’s second largest economy, Bloomberg said the “engines of China’s economy are spluttering with exports falling, factory output slowing, investment at a record[Read More…]
Markets around the world fell yesterday in response to the biggest fall on Wall Street for the year on Wednesday, amid further indications from bond markets and production data that the global economy is moving into recession. In response to the Wall Street decline, markets in Asia fell with Japan’s Topix index down 1 percent while the Australian market dropped[Read More…]
The current turmoil in financial markets was set off by the Trump administration’s threat to impose tariffs on an additional $300 billion worth of Chinese goods and its decision to label China a “currency manipulator,” following Beijing’s move to allow the renminbi to fall. The extreme volatility has prompted questions about the stability of the global financial system. But the[Read More…]
The head of the International Monetary Fund Christine Lagarde has repeated earlier warnings that the trade war between US and China threatens to result in a cut to global growth and has called on Washington and Beijing to pull back. In a report published earlier this week, the IMF estimated that the latest round of tariffs could see a reduction[Read More…]
The World Bank has added its voice to those warning of a worsening outlook for the global economy this year, amid signs that some major economies could experience a recession. In its Global Economic Prospects report issued last week, entitled “Darkening Skies,” it stated that “storm clouds are brewing for the global economy” and contrasted the situation with that of a year[Read More…]
The growth rate of the Chinese economy has fallen to its lowest level since the beginning of 2009 in the immediate aftermath of the global financial crisis. Official figures released at the end of last week put the annual growth rate for the third quarter at 6.5 per cent. This was below market expectations of 6.6 percent and down from[Read More…]
The Trump administration has stepped up its trade war against China with the announcement that US Trade Representative, Robert Lighthizer, will begin an investigation with a view to putting a 10 percent tariff of $200 billion worth of Chinese goods by the end of August. The latest decision comes on top of the imposition of a 25 percent tariff on[Read More…]
The Trump administration has gone ahead with its threat to impose tariffs on China under section 301 of the 1974 US Trade Act, imposing levies on $34 billion worth of Chinese goods from midnight, with a further $16 billion to be targeted in the near future. The action is the first shot in a direct trade war against China, with[Read More…]
Former trade union boss Cyril Ramaphosa has been sworn in as president of South Africa following an intense battle within the ruling African National Congress (ANC) which led to the ousting of Jacob Zuma who had held the presidency since 2009. The move against Zuma was set in motion last December when Ramaphosa won a closely fought struggle within the[Read More…]
According to the official scenario, the world economy is enjoying its best period of growth since the global financial crisis of 2008-2009, which ushered in the worst recession since the Great Depression of the 1930s. According to a report issued by the Organisation for Economic Cooperation and Development last month: “The global economy is now growing at its fastest pace[Read More…]
A warning by the governor of the People’s Bank of China, Zhou Xiaochuan, that the country’s financial system faces a possible “Minsky moment” has again raised concerns over the level of the country’s debt. Zhou, who is expected to retire soon from his position as head of the central bank, made his remarks at a sideline meeting during the Chinese[Read More…]
Eight years after the eruption of the global financial crisis, the conditions are being created for another meltdown of even bigger proportions, amid rising geo-political and economic tensions between the major capitalist powers. This is the implication of three reports issued by the International Monetary Fund in preparation for its annual meeting, which begins in Washington today. The World Economic[Read More…]
How the US and NATO Could Settle Dispute Over Ukraine Without War 
Dangerous Heat Across the Globe 
Save Lives, Socialize Big Pharma 
History: An Ocean without Shores 
Biological Diversity (Amendment) Bill, 2021 – Monetising that which sustains life 
Channi is dishonest and Kejriwal an honest man? 
Urgent Need to Raise Budget Allocations for Health Sector 
Thank Goodness Ilan Pappe is no Longer Alone on the Barricades Booster dose of COVID-19 vaccine: To give or not to give? 
CPSE disinvestment- Valuation approach flawed, Imprudent to ignore R&D effort in CPSEs at the cost of self-reliance 
The Ukraine Riddle & the War of Words 
Neoliberalism, Stress, and Sex 
A Very Long War – From Vietnam to Afghanistan with Detours Along the Way 
Palestine: Between a Rising Tide and Apartheid – Environmental Justice 
Subhash Chandra Bose: Memoirs of the North East India 
Ethnocracy invading India’s democracy 
Identifying Six Most Urgent Priorities of India in Exceptionally Difficult and Uncertain Times 
When Virtual Reality is the Actual Reality 
One Billion Dollars Per Day—This is what the top 10 billionaires of USA have been adding to their wealth in pandemic times 
Auguries of Ruin 
The Lamp – Lit For What? 
Red is the new alert for Prime Minister? 
How Israel’s ‘Facebook Law’ Plans to Control All Palestinian Content Online 
Dominance by Billionaires Leads India’s Highway to Record Levels of Inequality 
Obituary: Eminent Computer Scientist-Teacher Prof M. Radhakrishna 
Humanity at “Doom’s Doorstep” Says Bulletin of the Atomic Scientists 
Economics With A Human Face—Young Writer Makes A Mark With His First Book 
Morocco Drives a War in Western Sahara for Its Phosphates 
Setback to India’s Covid Genome Sequencing Efforts- 5 Labs Shut- A cause for concern 
Song of the Himalayas 
First Amendment to the Indian Constitution: Is Nehru a hero or a villain? 
Unshackle the youth to realize a Republic 
Punjab Election and the farmers 
A United Voice For A Referendum For Eelam Tamils 
Guantánamo’s Forever Elusive Endgame – Will We “Celebrate” Its 30th Anniversary? 
77 And The Drums Of War 
Blinken delays US response to Russia 
“Havana Syndrome” – CIA Rules Out Foreign Power Involvement 
Hate is normal in India today, thanks to social media Rapidly growing economic inequalities in India 
Binu Mathew, the editor of Countercurrents.org and the editorial team have been working selflessly with minimal funds and accepting no advertisements. Besides CC abhors foreign institutional funding, corporate funding or government aid. It has been in existence for about two decades and standing on the side of the people and taking an anti-establishment stance. To that extent it is like[Read More…]
