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Showing posts with the label "emerging economies"

The Global Economy

How one of the hardcore defenders of the capitalist system becomes very critical of governments and "leaders." He provides sound advice to get out of the crisis. " The world has come into this moment with divisions among its great powers and incompetence at the highest levels of government of terrifying proportions. We will pass through this, but into what? "A microbe has overthrown all our arrogance"? Whose arrogance? "The world economy is now collapsing" Related:  The post-pandemic slump
"Bolsonaro won mainly because of the disillusionment of the working class with the Workers Party.  After the collapse of commodity prices in resources and agriculture, the economy went into recession. The blame for this and corruption has been laid at the door of the Workers Party." Brazil's Tropical Trump
"US imperialism continues to reveal its long-term vulnerability. The US now has a net investment liability with other economies in the world to the tune of 9.8% of world GDP.  This compares with countries which are net creditors: Japan (3.9%), Northern Europe (6.4%) and China (2.3%).  This US net liability measures the stock of investment and the amount of credit made by other countries into the US after deducting US investment and loans abroad.  US imperialism is extracting more net value from other economies to fund its growth, but at the expense of becoming more dependent on ‘tribute’ rather than trade.  The IMF forecasts that the US net liability to foreigners will reach 50% of its GDP by 2023, or 10.7% of world GDP.  That compares with the combined liability of the exploited peripheral economies of the world of 7.8%.  US imperialism gets away this because it is still the world’s largest economy, with the biggest financial sector, with the dollar as the world reserve currency