Socialist Worker

Economic crisis


Are we heading for another world economic slump?

15 January 2016
Across the world stock markets and commodity prices are tumbling. Those in the ruling class who gloated about “recovery” last year now warn that the global economy could crash again. Some blame it on oil prices, others on China’s slump – Socialist Worker sorts the fact from the fantasy

British economy on the slide: “Sell everything” says bank

13 January 2016
British manufacturing is in recession, undermining chancellor George Osborne’s forecasts of steady economic growth.

Capitalism is teetering on the edge of crisis

05 January 2016
The New Year began with a new shock to global stock markets. For the first time ever, all of China’s main stock exchanges had to use emergency measures to halt trading after shares plummeted on Monday of this week.

What’s so bad about ‘deficit denial’ anyway?

20 October 2015
George Osborne and John McDonnell have different strategies for eliminating the deficit. But Nick Clark argues for a bolder approach

The 'China dream' is rapidly falling apart

08 September 2015
It's been a dramatic summer—Greece, the European refugee crisis, Jeremy Corbyn. But the big story for the world economy has been the collapse of the Chinese stock market. Since peaking in June, falling share prices have wiped £3 trillion off its value.

Made in China—how a debt crisis spread

01 September 2015
China’s rulers’ attempts to maintain growth have created a mountain of debt and empty buildings

We need to get rid of their bankrupt system

25 August 2015
The panic that spread through financial markets at the start of this week exposed the volatility of the system (see page 3).  For all the talk of “recovery” capitalism is fragile.

Markets in turmoil expose myth of economic recovery

25 August 2015
Global financial markets were in turmoil this week after China’s stock market suffered its biggest one-day plunge since 2007. The crisis has been dubbed “Black Monday”. 

Syriza fell in Greece because it gave in to the bosses demands for austerity

25 August 2015
Greece’s coalition government, led by the radical left party Syriza, has collapsed because it capitulated to bosses’ pressure to sign a new bailout agreement. This forced Syriza leader Alexis Tsipras to call a new election.

‘Uncle Xi’s bull market’ is collapsing in China

15 July 2015
Sally Kincaid looks at the causes of China’s stock market crash and how it terrifies the country’s workers and rulers for different reasons

Why Ukraine gets an easy ride over debt

02 June 2015
You may not have noticed, but Greece isn’t the only country that is engaged in difficult negotiations about its foreign debt. Ukraine is too.

Imperial boundaries are being redefined in South East Asia

12 May 2015
China’s ability to exert its influence in neighbouring countries shows the limitations of US imperialism, writes Tomáš Tengely-Evans

Make the rich pay

03 March 2015
There's no need for austerity - and we have the numbers to prove it

Greek workers shouldn’t pay the bankers’ debts

03 February 2015
People in Greece are furious that austerity is being imposed on them in exchange for bailouts of the government’s debt to the bankers.

Bosses fear that crisis will create revolt

20 January 2015
Alarm is growing among the ruling class as cracks in the old political order deepen. They know that more and more people are questioning their system and looking for an alternative.

Deflation is driving the currency chaos

20 January 2015
The global financial system suffered an unexpected jolt last week

Greece's government faces collapse as general strikes rock Italy and Belgium

16 December 2014
The year that was meant to bring relief to the eurozone’s crisis is instead ending in strikes, stock exchange runs and political collapse on some of its key battlegrounds.

Defying the bankers is the only solution to the crisis in Greece

16 December 2014
The government that’s currently collapsing in Greece is a grand coalition between the Tory New Democracy party and the Labour-type Pasok.

World leaders trade hot air as a new economic crisis looms

18 November 2014
World leaders shook hands a lot last week, with the G20 summit in Brisbane, Australia, and the Asia Pacific Economic Cooperation (Apec) conference in Beijing, China.

Rising markets are sign of deep malaise

04 November 2014
Faced with disaster on almost every front, David Cameron and George Osborne are desperately talking up the British economy. 

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