China’s economy is struggling, partly driven by a deepening economic rift with the U.S. That does not bode well for the rest of the world, particularly countries in the Global South, writes Argentine daily Clarín.
Tag: Recession
As recession predictions abound, stakes are higher than ever for the number crunchers at the world’s top central banks, who must also contend with the whims of the political class.
Nobody questions the new British Prime Minister’s intelligence, or even his performance as Chancellor of the Exchequer. But the economic conditions after the debacle of his predecessor Liz Truss leaves little margin for error for Rishi Sunak.
By deciding to invade Ukraine, the President of Russia did so believing that money would protect his country. By trying to prove him wrong, the West is facing its own potential crash.
If the López Obrador government really wants to restore the state oil firm’s status as a cash cow, it needs to stop treating it like a sacred cow.
South American states like Chile and Ecuador suspect Venezuela’s socialist regime of fanning rioting in their countries.
Hyperinflation comes from ignoring some basic economic rules. That is unlikely to change any time soon under the Maduro government.
The ‘sudden stop’ scenario has hit the Turkish economy, which threatens other countries around the world — and not just economically.
ELEFSINA — Greece must repay 7 billion euros of debt by July. But, as has been the case since 2011, the country will not be able to honor its debt without first receiving the credit promised by the International Monetary Fund and the members of the eurozone in July 2015 (86 billion euros). Athens’ creditors […]
Venezuela is not running out of banknotes due to criminal or speculative hoarding.
Little is known of what Dilma’s successor actually plans to do to lift Brazil out of its crisis. Temer, whose career has been defined by discretion, must now show his hand.
Capital flows back into Latin America suggest Brazil’s economic free fall may have stopped.
Things may be looking up for the South American giant, provided it can weather the unpredictable Dilma Rousseff impeachment process.
O Globo, March 14, 2016 “Brazil takes to the streets against Dilma and Lula and in favor of Moro,” Rio-based daily O Globo writes on its front page Monday, a day after an estimated 3.6 million Brazilians protested recession and corruption and called for the impeachment of President Dilma Rousseff. Sao Paulo’s Avenida Paulista (pictured […]
More than 50 cities have canceled or drastically cut traditional Carnival extravaganza due to public cutbacks. But some say killing the party will only make things worse.
Categories
Putin Without Pants On Russian Weekly Cover
“But there is no money,” reads the front page of this week’s edition of Moscow-based magazine The New Times, alongside a caricature of Russian President Vladimir Putin as an empty-handed, pants-less joker whose socks need mending. Russia is facing a deepening economic recession, caused notably by the low international oil price. And though Putin has […]
-Editorial- SAO PAULO — We Brazilians have rarely faced an economic downturn of this magnitude. From April 2014 to September 2015, the country’s GDP contracted by 5.8%, and there are no signs that a turnaround is forthcoming. We haven’t seen anything like it since the “lost decade” that began in the early 1980s or, before […]
Brazil has utterly failed to find an environmentally friendly response to waste disposal. The struggling economy makes change unlikely, meaning ever more garbage “pickers” making modest livings sifting through the dumps.
Brazilian governments again are guilty of spending too much when exports and revenues were booming. A view from neighboring Argentina, where bad economics is endemic.
SAO PAULO — João Batista, a 45-year-old builder, has been unemployed since December. Jailson de Lima, 46, is luckier: He still manages to find construction work from time to time but doesn’t earn enough to pay rent, which has been on a relentless rise. Cristiane dos Santos, 27, lived in a hostel for some time […]
Globalization downsized? Taking lessons from Chinese immigrant-owned shops, foreign chains Carrefour and Walmart are opening smaller markets to make shopping faster and cheaper.
TEL AVIV — Israel’s diplomatic campaign against the Palestinian Authority and last summer’s Operation Protective Edge in Gaza are no doubt among the factors contributing to Israel’s current economic slowdown. A study by economists Joseph Zeira and Tal Wolfson from the Israeli-Palestinian think tank Aix Group offers some data illustrating the differences between the recession […]
BUENOS AIRES — Cash-strapped amid a deepening recession but still, in many cases, reluctant to take public transportation, Argentines are turning to car sharing or carpooling to move about. This relatively environmentally friendly practice is well-established in some U.S. and European cities, but is still embryonic in car-loving Latin America. In Argentina it is catching […]
BEIJING — While the clouds of the student protests are still casting a shadow over Hong Kong, the impact of the “Occupy Central” movement on the city’s middle- and long-term prospects is particularly concerning. A forecast from the University of Hong Kong predicts a sharp drop in growth from the 3.4% predicted earlier to 2.2% […]
Lower visibility, a falling ruble and rising inflation: The Ukrainian crisis is taking its toll on the Russian economy.
How did the Argentine economy arrive at a point of complete exhaustion, asks Brazil’s leading daily. Here’s a checklist of the errors made over the past decade.
ATHENS — Over the past three years, the European country most affected by the global economic crisis is without doubt Greece. Today, almost six in 10 young people are unemployed, 58.8% of those under 24. Many have also moved abroad since the country has struggled to recover from the recession. The “troika” (the International Monetary […]
LES ECHOS (France), TELEGRAPH (UK), REUTERS Worldcrunch PARIS – After six straight quarters of contraction, new signs were reported Wednesday that the recession in Europe’s single-currency euro zone may be set to end. Manufacturing in the euro zone increased for the first time in well over a year, boosted by higher private sector output in […]
EL PAIS (Spain), GUARDIAN (UK), REUTERS Worldcrunch MADRID – Good and bad news arrived Thursday as Europe continues its struggle to emerge from a five-year-long economic crisis. Bad news first: Spain has again marked record-high unemployment figures, with a 27.2% jobless rate for the first quarter of 2013, the seventh straight quarter of rising jobless […]
AUSTRALIAN FINANCIAL REVIEW, SYDNEY MORNING HERALD, AAP (Australia) Worldcrunch SYDNEY – It’s not called the “Lucky Country” for nothing. Australia’s resource-rich economy continued to expand last quarter, extending the country’s run of 21 years of uninterrupted growth. Fourth-quarter GDP grew by 0.6% from the previous quarter, and 3.1% from a year earlier according to the […]
ONS, BBC NEWS (UK) Worldcrunch LONDON – Britain’s Office for National Statistics (ONS) reported Thursday that the UK economy has emerged from recession, helped by the Olympic Games. In the three months from July to September, the country’s economy returned to growth at its fastest pace in five years, with its Gross Domestic Product (GDP) […]