With a weak outlook for commodity prices, particularly for energy and metals, growth in commodity-exporting emerging and developing economies could slow further over the next few years, says a new study. The study, published in the forthcoming 2015 World Economic Outlook, suggests that the recent declines in commodity prices could shave off one percentage point … Continue reading
By Anzetse Were Kenya has been in the throes of a teacher’s strike rooted in the fact that government has failed to pay teachers a 50% pay raise despite being ordered to do so by the courts. Government’s argument is that they don’t have money. What does government mean when they say they don’t have … Continue reading
The situation in Venezuela is bad, and things are going from bad to worse — as we have highlighted and warned about repeatedly — amid the tumble in the price of global oil, a plunge in the nation’s currency and reserve currencies, consumer goods shortages, hyperinflation, a selloff in emerging markets, a global market selloff. You get the picture. Last … Continue reading
By Mike Whitney Imagine your doctor put you on a daily dose of oxycontin, phenobarbital and Quaaludes for six years straight. Then he suddenly cancelled your prescription. Do you think your behavior might become a bit erratic? This is what’s going on with the stock market. It’s trying to shake off six years of overmedication brought … Continue reading
By Pepe Escobar, Asia Times Pope Francis may be the rock star. But once again, the real heart of the action is all about Russia and China — those prime “threats” to Exceptionalistan, according to the Pentagon. Where’s Benjamin’s Angel of History when we need him? His gaze is now certainly focused on the home … Continue reading
By Yukon Huang, Carnegie Endowment There are conflicts among the many objectives shaping China’s exchange rate policy. Politically, China’s leaders are keen on having the renminbi become a major international currency. For this purpose, the renminbi needs to be strong and stable enough that others will use it to settle trade balances and as a reserve … Continue reading
By Steve Hedden Sustained power cuts, caused by under-investment and a shortage of generating capacity, have damaged the South African economy. The response has been a belated thrust towards more power supply, from a combination of coal-fired power plants, oil and gas, wind and solar, and potentially a fleet of new nuclear power stations. Fixing … Continue reading
By Michael Snyder You would think that the simultaneous crashing of all of the largest stock markets around the world would be very big news. But so far the mainstream media in the United States is treating it like it isn’t really a big deal. Over the last sixty days, we have witnessed the most … Continue reading
By Lee Jong-Wha Pundits love debating the Chinese economy’s growth prospects, and nowadays the pessimists are gaining the upper hand. But many are basing their predictions on other economies’ experiences, whereas China has been breaking the mold on economic growth for the last three decades. So, are China’s economic prospects as bad as prevailing wisdom … Continue reading
By Dr. Chandra Muzaffar A number of important initiatives linked largely to the economy made public in the last few years may have a huge impact upon the future of humankind. ASEAN and China have played a pioneering role in some of them. The ASEAN initiated Regional Comprehensive Economic Partnership (RCEP), negotiations for which started in … Continue reading