Pakistan: The IMF’s Conditional Loan and its Cost
Pakistan may have been saved, but not the people.
-
-
Corporate Profits Were Biggest Driver of Inflation in Europe, IMF Admits
“Rising corporate profits account for almost half the increase in Europe’s inflation over the past two years as companies increased prices by more than spiking costs of imported energy”, wrote IMF economists this June.
-
Developmentalism Versus Ecosocialism
Transcript of a conversation with two ancestors: Livio Rangel, a lifelong organizer and educator from Venezuela, and Joel Kovel from the USA, co-author of the Ecosocialist Manifesto. The conversation seeks to build a partnership in the belly of the beast with the revolutionary ecosocialist movements of the global South.
-
Developing Debt Disaster
Debt payments are consuming more of government spending in poor countries when they were already struggling to provide education and health services. On average, the poorest countries spend just 3% of GDP on their most vulnerable citizens – compared with an average of 26% for other economies.
-
Poverty and Crisis: Sucking Humanity Dry
The World Bank says nearly 80% (560 million) of the 700 million people who were pushed into extreme poverty in 2020 due to COVID policies were from India. Globally, extreme poverty levels increased by 9.3 per cent in 2020.
-
Earnings of Big Companies, Super Rich Booming – 2 Articles
“Big Companies Earned Over USD 1 Trillion of Profit in 2022, Says Joint Oxfam and Action Aid Study”. And: “World’s Richest Added $852 Billion to Their Fortunes in First Half of 2023”.
-
Pitfalls of Export-Led Growth
After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis.
-
Subsuming Finance
A revolution from above has seized China’s financial sector, resulting in a number of purges, ruthless rectification of the most dubious segments of capital markets, and – most significantly – shifting operational leadership over the financial landscape from government bodies to the CCP’s Central Committee.
-
GDP and the Idolatry of Growth
The importance of GDP growth as the gold standard, the ostensibly neutral measure of progress, reflects the interests of a ruling class. Challenging GDP should be a part of a broader project of psychological deprogramming and social deconstruction.
-
Capitalism | China | Economy | Online Blog
Why China Can’t Pull the World Out of a New Great Depression
The prospect of the Chinese economy being a growth locomotive to lift the rest of the world from looming depression is virtually nil at this point. The massive BRI is mired in massive loans to countries unable to service the debt. Attempts to boost domestic China growth by relying on a consumer boom are also presently doomed.
