Growth in the G7 ‘Great Stagnation’ will be slower than in the Great Depression

27th July 2017 Socialist Action 0

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

29th March 2017 Socialist Action 0

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’

8th January 2016 Socialist Action 0
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

5th September 2015 Socialist Action 0
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’.

Two classes, two responses to the crisis

1st June 2012 Socialist Action 0

By Nicky Dempsey

Martin Wolf, the chief economics commentator for the Financial Times, has laid out a devastating critique of current government economic policy in Britain. In a widely-reported article titled ‘Cameron is consigning UK to stagnation’ he says it is a scandal that the government has cut its own investment, especially when it can in effect borrow for free, as real interest rates are at zero.