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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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This article is based on a talk delivered in Hyderabad on 7th October 2018 as part of the 9th memorial meeting of ‘Remembering Balagopal’, an annual event commemorating the late social activist K Balagopal It is a truly a great privilege for me to be here today to speak to all of you at this meeting to remember Prof.[Read More…]
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