Trump’s economic destabilisation
Leading official forecasters do not expect the main industrialised countries’ growth to accelerate in the next period, and the UK economy is expected to be the weakest of all.
economics
The ‘Anglo-Saxon’ Political Crisis – from Reagan & Thatcher to Trump & Brexit
The following article by John Ross, setting out the economic forces underpinning the current political crises in the US and Britain, was previously published here by Socialist Economic Bulletin.
Every day the media reports deepening political destabilisation gripping both major ‘Anglo Saxon’ countries – the US and UK. Most important for the world, of course, is US political instability where almost daily crises hit the Trump administration – resignation of the President’s Chief of Staff, sacking of the head of the FBI, public attacks by the President on members of his Cabinet, virulent public and even obscene denunciations by the President’s advisers of each other, numerous Congressional investigations, sensational leaks from inside the national security agencies the FBI and CIA, open campaigns by key mass media such as the New York Times and CNN to remove the President etc. This US domestic political instability is clearly tightly intertwined with crises and developments in world politics – US relations with Russia, US disputes over the Iran nuclear deal, differences over US policy to China etc.
Growth in the G7 ‘Great Stagnation’ will be slower than in the Great Depression
The following article by John Ross, examining the current slow growth of the G7 economies, was previously published on Learning from China.
The Western G7 economies are in, and will remain locked in, very slow growth. How slow this growth is can be seen starkly by taking an historical comparison: the average growth in the Western economies in the entire period since the international financial crisis in 2008 will actually be slower than in the Great Depression after 1929!
The economic logic behind Trump’s foreign policy – why the key countries are Germany and China
The following article by John Ross, setting out the economic fundamentals confronting the US, was previously published by Socialist Economic Bulletin.
This article was published in Chinese before the recent summit between Chancellor Merkel and President Trump – which strongly confirmed its analysis.
The first steps by Trump as US President confirmed that he will pursue an anti-China policy but also that he will use different tactics to Obama and Clinton.
Latin American left needs to study China’s ‘revolution in production’
The following article, by John Ross, on the lessons of China’s ‘revolution in production’ for the Latin American left, previously appeared on Socialist Economic Bulletin.
In the later part of the 20th century Latin America suffered an economic catastrophe from neo-liberal policies. Until 1993 average per capita GDP in developing Latin American economies remained below 1981 levels. By 1998 annual average per capita GDP growth was still only 0.9% – taking a five-year average to remove cyclical fluctuations.
No China’s economy is not going to crash – why China has the world’s strongest macro-economic structure
The following article, by John Ross, on why China’s economy is not going to crash, was previously published by Socialist Economic Bulletin.
A great deal of highly inaccurate material is currently appearing in the Western media about the ‘crisis’ of China’s economy – an economy growing three times as fast as the US or Europe. This follows a long tradition of similarly inaccurate ‘crash’ material on China symbolised by Gordon Chang’s 2002 book ‘The Coming Collapse of China’.