Tag: socialist

How deep is the global depression?

The world economy is being shaken as never before. 2.7 billion workers around the world — 81 percent of the labour force — are under lockdown or travel bans. Hundreds of millions risk acute starvation. And yet, no one knows how deep or long-lasting the depression will be.

Lockdown should end when workers say so

The Tory Government’s failure to convincingly meet their own five tests increases both the likelihood and severity of a second wave of the pandemic.

Devaluation of yuan jolts global markets

On Tuesday 11 August the Chinese central bank PBOC (People’s Bank of China) jolted global markets with the announcement of a devaluation of the yuan – by the widest margin for 21 years under its controlled exchange rate regime. The decision effectively marks China’s entry into the global currency war, […]