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Nicaragua’s Economy “Weathers Multiple Shocks” Including US Attacks
The International Monetary Fund’s new assessment of Nicaragua’s economy labels it as “strong” no fewer than 56 times. But it also shows how key factors in the country’s growing prosperity – export earnings, trade relations and remittances (money sent by Nicaraguans living abroad) are vulnerable to US attacks. The IMF points out that US sanctions […]
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Everlasting Collapse: 70 Years’ Predictions of China’s Imminent Doom
From 1980-2008, EU GDP grew 2.7%, the US 3%, and China 9% . Since then, the EU has averaged 1.5%, the US 1.8% and China 7%. In other words, China’s economy has grown 300% faster than Western countries’ and, as they slip out of the top bracket of high income countries, China is entering it. […]
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People’s Response to APEC: Breakdown or Breakthrough?
The Doomsday Clock advances 10 seconds closer to midnight. Global temperatures rise beyond 1.5°C. Forests burn. Hurricanes intensify. Meanwhile, countries produce bombs and bullets, the New Cold War inches us closer to nuclear annihilation, and US President Donald Trump extorts the world. The response of the Asia-Pacific Economic Cooperation (APEC) is to draw from the […]
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Trump’s Whims on Tariffs and Trade Deficits
“Trump’s tariff formula explained: How rates were determined for each country” IMAGE/USA Today/Duck Duck Go Tariffs Tariffs are a tax imposed on imported goods to protect local industries in order to be self-sufficient and thus avoid being taken advantage of. For a very long time, Britain charged tariffs on many items, only in 1860 were […]
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Multipolar World Order, Leading Role of Emerging Economies, and Western Debt: Key Takeaways from Putin’s BRICS Address
President of Russia Vladimir Putin during an expanded meeting of BRICS leaders during the 16th BRICS summit in Kazan. © Sputnik / Stanislav Krasilnikov Russian President Vladimir Putin addressed a meeting of leaders at the BRICS Summit in Kazan on Wednesday. In his speech, he focused on the growing role and prospects of the economic […]
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Following US’ Protectionist Policies, Canada is Shooting Itself in the Foot
Illustration: Chen Xia/GT On the political stage, Canada often seems to trail behind the US. After the US government’s announcement in May of imposing high tariffs on Chinese electric vehicles (EV) and steel, the Canadian government has now decided to follow suit. On Monday, Canadian Prime Minister Justin Trudeau said Ottawa would impose a 100 […]
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Is the Reign of the Dollar Coming to an End?
Jiang Tiefeng (China), Stone Forest, 1979. In early June, a rumour began to circulate – which was widely reported in the Indian press as true – that the government of Saudi Arabia had allowed its petrodollar agreement with the United States to lapse. This agreement, made in 1974, is quite straight-forward and fulfills various needs […]
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The Untold History of the Cold War, CIA Coups Around the World, and COVID’s Origin
Professor Jeffrey Sachs is the President of the UN Sustainable Development Solutions Network and Director of the Center for Sustainable Development at Columbia University. He is the author of many best selling books, including The End of Poverty and The Ages of Globalization. Here he is with probably the smartest and most accurate assessment of […]
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Why Are U.S.-imposed Problems the Main Headwind China Faces?
In 2023, China achieved a strong 5.2 percent GDP growth rate, leading major global economies and driving worldwide economic growth, despite facing a complex and severe economic landscape. Yet, what challenges lie ahead for China’s enduring economic growth? In the special edition of The Hub, Wang Guan talks to Jeffrey Sachs, professor and director of […]
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