The United Nations has added its voice to the growing list of international organisations, including the World Bank and the World Trade Organisation, warning that interest rate hikes imposed by the US Federal Reserve are creating the conditions for a financial crisis and global recession. In its annual report issued earlier this week, the United Nations Conference on Trade and[Read More…]
In the lead up to the semi-annual meetings of the International Monetary Fund (IMF) and the World Bank being held in Washington this week, the global aid agency Oxfam has produced a report detailing the horrendous impact of rising inflation, coming on top of the devastating effects of the COVID-19 pandemic, for almost half the world’s population. It said the[Read More…]
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…]
American Abrams tanks roll into Ukraine 
An open letter to JNU VC – Madam! Your association with RSS defies humanism, anti-colonial struggle Indian democracy! 
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Tunakataa! Saying ‘No’ to Capitalism and Imperialism in Kenya 
Rising Islamophobia and Communal Discord: An Alarming Trend in BJP-Ruled States 
Speak Truth to Power and Pay the Price! 
USA’s Wars Took 12 Million Lives in The Last 25 Years 
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Nijjar affair poses an existential dilemma 
On the Brink of Famine 
Appeal to withdraw the notification for the public hearing for the proposed Sijimali Bauxite Mining Project 
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Imperial Footprints in Africa: The Dismal Role of AFRICOM 
Hunger in Africa has its roots in a History of Colonialism and Neo-colonialism 
The Climate March: Magnificent and Misdirected 
Imagining a Progressive Pentagon 
“Lost Voices of Fentanyl” Rally at the White House 
Indian Government Must First Evict Dalai Lama & his Followers before Admonishing Canada for Separatist Activities 
Peasant-rebels: lineages of insurgency 
Mission to Free Assange: Australian Parliamentarians in Washington 
Bayer-ICAR Collaboration Raises Serious Concerns Regarding Indian Farm Policy 
Place of Minorities as Allotted by Savarkar, Golwalkar and Upadhyaya 
What is in the name? Attempt to stop the usage of ‘India’ by the Government 
Poona Pact: A Reappraisal 
Hate Speech Inside Parliament: Reaching a New Low 
Criminal Justice And Freedom of Speech 
75,000 Climate Protesters Marched In New York With Demand To End Fossil Fuels 
On the Dark Side of the Moon.. 
Avoiding the War on Terror would have saved over 10 million lives at home and abroad 
The Angertainer Steps Down: Rupert Murdoch’s Non-Retirement 
Climate Emergency Update, September 2023 
My appeal to Meta’s Oversight Board: Palestinian political and resistance organizations & individuals are not “terrorists” as classified by Israel 
Artificial Intelligence: Profit Versus Freedom 
How Can We Understand the Passage of Time? 
Pre- and Post-Soviet Language Policy in the East-Baltic States 
My Amma (Malayalam word for Mother) passed away on August 22, 2023 at 3.10 AM. It is always difficult to deal with the passing of a parent, that too one’s mother. I thought the grief would go away. No it didn’t. All those bitter sweet memories won’t go away. At night I lie awake for hours. My friend, guide and[Read More…]
