The IMF’s last forecast, in April, predicted that world growth would contract by 3%, which it described, in what must be the most-used word of 2020, as “unprecedented.” This report revises that downward to 5%. What will be the consequences?
Tag: world economy
David Cameron seems to have woken up to the problems facing the world economy when he said “red warning lights are once again flashing on the dashboard.” For once the Socialist would agree with him, but of course the Tories offer no answers. Having blamed Labour for the last crisis […]
Beijing’s sharp credit squeeze adds panic on global financial markets By Vincent Kolo, chinaworker.info World financial markets have been rocked again in recent days. First came the US Fed’s announcement last Wednesday (19 June) that it could start to unwind its cheap credit policy of ‘quantitative easing’ by year-end. The […]
Increasing concerns and contradictions By Per-Åke Westerlund, from Offensiv, newspaper of Rättvisepartiet Socialisterna (CWI Sweden) The severe downturn in 2008-09 made the world economy into an experimental workshop. But neither extreme austerity or trillions to the banks has led to a solid recovery. Now there is growing concern among politicians […]