Post Tagged with: "Capitalism in crisis"

China: Debt woes multiply as new liquidity crunch strikes

China: Debt woes multiply as new liquidity crunch strikes

Local government debt has soared but Beijing’s attempt to curb runaway credit misfires again Vincent Kolo, chinaworker.info An end-of year scramble for funds by financial institutions drove up interbank lending rates to levels not seen since the June liquidity crisis, threatening turmoil in money markets and triggering the longest fall […]

China’s Third Plenum: More market, more dictatorship

China’s Third Plenum: More market, more dictatorship

Xi Jinping’s shift from dictatorship-by-committee to new ‘paramount leader’ is a high-risk strategy Editorial statement from chinaworker.info “More market, less freedom, and much more power to Xi Jinping” – this was the verdict of Beijing-based journalist Ola Wong, on the decisions of the recently concluded third plenary meeting of the […]

China’s super-rich get even richer

China’s super-rich get even richer

Forbes rich list says 400 wealthiest people became 150 billion US dollars wealthier last year Vincent Kolo, chinaworker.info “The rich are getting richer,” declared Russell Flannery, the bureau chief for Forbes Shanghai. The US magazine unveiled its annual China rich list last week, once again showing a marked growth in […]

World Perspectives: Age of austerity preparing seismic convulsions

We are living through one of the most dramatic periods in history Document adopted by the December 2012 meeting of the International Executive Committee of the CWIIntroduction We are living through one of the most dramatic periods in history. The Greek workers, followed by the Portuguese and Spanish, are in […]

World economy: Riding the double-dipper

World economy: Riding the double-dipper

Capitalist leaders are in disarray as they strive and fail to get to grips with the eurozone crisis and its threat to the global economy Lynn Walsh, from Socialism Today, magazine of the Socialist Party (CWI in England & Wales) Capitalist leaders are in disarray as they strive and fail […]