Congress pumped over $6 trillion in cash into the economy over the past year-and-a-half in response to the coronavirus pandemic, with the federal debt reaching over $28.5 trillion in June. Combined US debt, which includes federal liabilities plus other public and private obligations, stands at over $85 trillion, or four times the US’ annual GDP. […]

The country’s economy is cratering, there are shortages of fuel and medicines, and people are going hungry on the streets. Yet what does the West worry most about? Hezbollah helping the starving get food. Lebanon’s caretaker Prime Minister Hassan Diab has warned the international community that the country could collapse in days, as even Israel […]

As the US runs out of concrete resources to sell, bankers have had to get clever – whether this means repackaging assets already sold six times over or inventing new ways to cash in on items once considered intangible. By the time Americans realized that the promised ‘trickle-down’ theory of neoliberal economics was in fact […]

Foreign investors and entrepreneurs show growing interest in the development of the Northern Sea Route (NSR), Russian Ambassador at Large for the Arctic Cooperation at the Ministry of Foreign Affairs Nikolay Korchunov told TASS. According to him, international businesses “have high practical demand for Arctic projects, whose long-term strategy stipulates the year-round use of NSR […]

Capitalism has made us cruel. My brother just tested positive for Covid. He can’t smell or taste anything. He feels exhausted. He got it from work. It’s the only place he’s gone for the last year— no friends, no dating, no social life. They wouldn’t give him time off to get vaccinated. They’ve dumped overtime […]

Seven years of negotiations have concluded just days after Brussels and London agreed on a post-Brexit trade deal and ahead of tensions with the incoming Biden administration, according to reports. China and the European Union announced a long-awaited investment deal confirmed by Chinese president Xi Jinping and European Commission president Ursula von der Leyen, media […]

The digital yuan cryptocurrency developed by China has the potential to be a gamechanger when it is rolled out fully. By ending the world’s reliance on the dollar, it will alter the geopolitical landscape forever. For several years now, China has been developing the digital yuan, the first cryptocurrency from a central bank and government […]

Debates in Congress over a new COVID-19 relief bill have dragged on for months, even as new coronavirus cases have hit record highs. A slew of federal programs designed to alleviate the economic impacts of pandemic shutdowns will expire in weeks, setting the stage for a series of crises that could leave millions more in […]

Stephen Vizinczey says all a great power has to do to destroy itself is persist in doing the impossible… Like bankruptcy, societies and complex systems collapse slowly then all at once. The cycles that civilisations go through are well documented and whilst in hindsight it’s glaringly obvious to understand what drove the breakdown, in real […]

The continuing surge of coronavirus cases across the US along with the inevitable restrictions that are employed to stave off the spread of the pandemic are forecast to weigh heavily on economic recovery. The US economy is predicted as heading towards a potential contraction in economic growth early next year, marking the first “double dip” […]

Given the continued disruptions caused by the pandemic and uncertainty about a vaccine, it would behoove the countries of the world to dial down tensions and expand collaborations, writes Vijay Prashad. In mid-October, the International Monetary Fund (IMF) released its World Economic Outlook report, which offered some dizzying data. For 2020, the IMF estimates that the global […]

Ten members the Association of Southeast Asian Nations (ASEAN) and five other Asia-Pacific countries, including regional leader China, have inked the world’s largest free-trade pact that covers nearly a third of global economy. The long-discussed agreement, officially known as the Regional Comprehensive Economic Partnership (RCEP), was signed on the sidelines of the annual ASEAN summit […]

Fifteen Asia-Pacific nations including China and Japan plan to sign the world’s biggest free trade deal this weekend. The FTA will cut tariffs, strengthen supply chains with common rules of origin, and codify new e-commerce rules. The Regional Comprehensive Economic Partnership (RCEP) is expected to be announced at the Association of Southeast Asian Nations (ASEAN) […]

More than 50 percent of small and medium-sized businesses (SMEs) operating in Europe’s top-five economic powerhouses fear they will have to close in 12 months as they’re struggling to stay afloat amid the coronavirus crisis. The pandemic has pushed down the revenues of more than 70 percent of European companies, according to the results of […]

A number of recent reports suggest that the financial risk from climate change could be much greater than previously anticipated, and that entire asset classes could come under fire as temperatures continue to rise. Trillions of dollars of market value could go up in smoke due to climate change. The damage hits the global economy […]