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…]
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Why I decided to boycott the Israeli elections 
China’s Xi Jinping to attend Joe Biden’s climate summit 
I Can’t Breathe: In India, in the USA, or anywhere else, Transform the Oppressive System that is Choking 
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A Dark Earth Day 
Earth Day 2021 
How children are taking European states to court over the climate crisis – and changing the law 
A Palestinian Prayer for Ramadan: May the Voices of the Oppressed Be Heard 
Key U.S. air base in Turkey sits on property stolen from Armenians during the genocide 
Ramsey Clark Described His Government As Humanity’s Ever More Threatening and Treacherous Enemy 
Revisiting NEP 2020 From The Perspective Of Global Education And Knowledge Society 
Save Peri-Urban Areas From Neglect, Create Hubs of Greenery and Water Conservation 
A Nudge Here, An Appeal There–Why Participative Restrictions May Be Better Than Enforced Lockdowns 
Climate crisis: Time is fast running out, and World Bank changes tone 
Profiting from Hajj: Commodification of Spirituality 
Charlie Chaplin – Book Review – ‘Hasre Dukh’ (Beaming Sorrow)- By Bha. D. Kher- 
The Ukrainian crisis and Biden’s interests 
Voices from the Margins, and Engaging Slave Selves and Narratives 
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SAPACC Request PMs of India, Bangladesh And Bhutan To Declare A Planetary Climate Crisis 
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US’ China policy at inflection point 
Paper Value Pledges And Time Passing Tamil Politicians 
The Doomsday Glacier Lives up to its Billing 
Biden’s Anti-China Ambitions – A Reality Check 
Inadequate funding of gene sequencing effort by the scientists at a time when the COVID crisis needed it most 
Lockdown Decisions Must Be Based On Very Careful Appraisal of Reliable Data 
Hindi Cinema’s Contribution to Human Rights, Though Rare, is Still Significant 
In our hurry to conquer nature and death, we have made a new religion of science 
Pavagada solar plant shines, but at what cost? 
Clearly, It Is Time Now For the Government to Accept the Key Demand of Farmers 
Lift USA embargo on the export of Vaccine raw materials 
Greed and the European Super League 
The Growing Threat of Fascism in the United States 
A Tale of Three Viruses: Corona, Stupidity and Privilege 
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Hand-Spun, Hand-Woven Cloth Has A Wider Message—The Increasing Relevance of Khadi 
When I founded Countercurrents.org in 2002, Disha Ravi who was arrested for sedition yesterday was a two-year-old toddler. In 2002, the CO2 level in the atmosphere was 370 ppm. Now it is 415 ppm. In just 19 years CO2 levels increased by just over 2ppm/year. The level of cumulative greenhouse gases in the atmosphere, including Methane, Nitrous Oxide etc is[Read More…]
