financial flows Archives - Page 5 of 65

Mexico’s G20 Summit: In the Eye of the Storm

by Laura Carlsen | Jun 13, 2012

The hopes of Mexico’s president Felipe Calderon to have the European crisis under control before he presides over the G20 Summit have been dashed. Although the immediate threat of an economic meltdown has subsided, the crisis is far from over. Continued uncertainty in Greece and growing crisis in Spain are the most recent problems that have worsened the situation in the euro zone, said the European Commission in its weekly report for the last week of May. As usual, it called for holding the line.

The Spanish Bank Bailout: Digging a Deeper Hole

by Oscar Reyes | Jun 13, 2012

“I’m going to see the European cup having resolved the situation,” claimed Spanish Prime Minister Mariano Rajoy on Sunday, after a bailout of the country’s banks worth up to €100 billion was announced. The Spanish team drew, but the Spanish people continue to lose – paying for a crisis that has left them with “not much bread, and terrible circus” (Poco pan y pésimo circo), in the words of a Spanish rap-rock song that sounds more apt today than when it was recorded over 15 years ago.

China’s Missing Middle Class

by Nan Chen | May 24, 2012

Two parallel narratives surround globalization and the trade imbalance between China and the United States. One side moans that competition with China has squeezed traditional U.S. manufacturing jobs and caused the middle class to disappear. The other side declares that a new Chinese middle class is riding the wave of China’s inexorable economic boom. A particularly hyperbolic headline in Forbes, for example, proclaimed the rise of China’s middle class to be “The Biggest Story of Our Time.”

Stateless and Fancy-Free

by Russ Wellen | May 11, 2012

Conservatives and Tea Partiers don’t understand that the rich — including U.S. corporations — don’t see themselves as Americans.

Waiting for Copernicus

by John Feffer | May 8, 2012

It’s happening in Buenos Aires. It’s happening in Paris and in Athens. It’s even happening at the World Bank headquarters.The global economy is finally shifting away from the model that prevailed for the last three decades. Europeans are rejecting austerity. Latin Americans are nationalizing enterprises. The next head of the World Bank has actually done effective development work.

Maybe that long-heralded “end of the Washington consensus” is finally upon us.

Annotate This: EU Response to Argentina’s Nationalization

by Melissa Moskowitz | May 7, 2012

Despite being immensely popular among the people of Argentina, the Argentinean government’s decision to nationalize the YPF oil company has continued to come under attack by those who obstinately promote extractive capitalism. The measure would nationalize YPF and restore 51 percent of the company’s ownership to Argentina. It would thus end sister company Repsol’s 57.4 percent majority stake in the company.

The End of Austerity in Europe?

by Jeanne Kay | May 4, 2012

A few months ago, when Occupy movements bloomed across Europe, the absence of any similar uprising in France appeared to be an anomaly in a country infamous for its people’s propensity to take the streets. One explanation was that the presidential election was just around the corner, and that after 10 years out of government, the Left was capable of channeling the French people’s indignation into electoral gains.