Issue No. 307/308 (Mar/Apr 2016)

*Click on cover to download the magazine (PDF)

COVER: Uncertainty and gloom pervade the global economy

Grim economic situation calls for bold measures
The world is caught in a debt trap and this may yet destabilise a fragile global economy grappling with slowing growth and trade, financial volatility, capital flight and commodity collapse.
By Yilmaz Akyüz

What's ailing the world economy?
Current monetary policies risk precipitating another financial crisis; alternative policies are needed to restore sustainable and inclusive growth.
By Joseph E Stiglitz and Hamid Rashid

Are we entering into a long-term stagnation?
The fear is that a single adverse shock may yet push the current economic stagnation into recession.
By Roberto Savio

New year sees turbulence in financial markets
The turbulence in the financial markets at the beginning of the year epitomises the fragility of the global markets.
By Kanaga Raja

Has the crash of the global financial markets begun?
Even as some insist that the global economy is in 'secular stagnation', the facts suggest that we may be entering the 'worst' depression in history.
By Sabri Oncu

Sluggish world trade heightens global slowdown
World trade is shrinking as a consequence of the global downturn and in turn it is further fuelling the process. 
By Chee Yoke Heong

Commodities rout threatens commodity-dependent countries
UNCTAD has stressed the need for policies, including economic and fiscal diversification, to reduce countries' exposure to the cyclicality of commodity markets.
By Kanaga Raja

China's drive for sustainable growth amidst a global slowdown
While facing huge domestic challenges in restructuring its economy to make growth sustainable, China has also to fight against the 'persistent stagnation' which has gripped the global economy.
By Yu Yongding

Banks and the new Asian tigers
Both India and China have been viewed in recent years as crucial props to a sagging global economy. Unfortunately their banks are also laden with debt, making them particularly vulnerable to shocks.
By C P Chandrasekhar

When China sneezes, does Africa catch a cold?
The precipitate drop in commodity prices has devastated Africa's commodity exporters. However, this crisis could yet be turned into an opportunity.
By Nicholas Norbrook

The strength and fragility of the Brazilian economy
It is the Brazilian economy's vulnerability to massive and uncontrolled capital flows that has brought the country to its current economic crisis.
By Rosa Maria Marques and Paulo Nakatani

A coup in Brazil?
What is happening in Brazil is not a popular uprising but a coup.
By Alfredo Saad-Filho

Eurozone's fiscal austerity policies holding back global economic recovery
The fiscal austerity policies that replaced the fiscal stimulus measures earlier have been a drag not only on the European but also on the global economy.
By Anis Chowdhury and Jomo Kwame Sundaram

How austerity has crippled the European economy - in numbers
Thomas Fazi details the heavy toll wreaked by Europe's austerity policies.
By Thomas Fazi

The fragility of the US economy
The US economy suffers from some serious structural problems which, if not addressed, may yet plunge it into a deep crisis.
By Dimitri B Papadimitriou, Michalis Nikiforos and Gennaro Zezza


Cuba's sustainable agriculture at risk in US thaw
If relations with US agribusiness companies are not managed carefully, Cuba could revert to an industrial approach that would roll back the revolutionary gains that its farmers have achieved.
By Miguel Altieri

On forgetting Fukushima
We have to do more than remember Fukushima, we have to learn how to remember Fukushima.
By Robert Jacobs


Genetic control is no answer to Zika
A distinguished entomologist explains why genetic control is not the panacea for Zika.
By Payyalore Krishnaier Rajagopalan


Argentina's painful return to 'economic orthodoxy'
The new government of President Mauricio Macri in Argentina has embarked on a rapid-fire series of conservative economic reforms, threatening public sector employment and social programmes.
By Sara Kozameh

Legal carte blanche for vulture funds
The 15-year saga of one of the most complex and notorious debt litigations in history has come to a conclusion that legally sanctions predatory hedge funds and endangers the world financial order.
By Bhumika Muchhala


Dangerous times in India
The country's extreme right is targeting college students.
By Vijay Prashad


Three decades later, enslaved Maya women find justice
They were the invisible victims of Guatemala's bloody civil war. This is their story.
By Sonja Perkic


Large gender gaps remain across broad spectrum of global labour market
A new International Labour Organisation report highlights the enormous challenges women continue to face in finding and keeping decent jobs around the world.


The vilification of Julian Assange
It is difficult to believe that the campaign against the whistleblower Julian Assange is not politically motivated.
By Jeremy Seabrook


If we want to understand African history, we need to understand the Battle of Adwa
Hannah Giorgis explains the historical significance of the victory of a Third World country against a European power in the Battle of Adwa 120 years ago.
By Hannah Giorgis

A terrible beauty
Remembering Ireland's 1916 Easter rebellion

Ireland was a laboratory for every manner of colonial repression by the British. One hundred years after the Easter rebellion, it is once again - this time by banks.
By Conn Hallinan


Berta lives!
A look at the life and legacy of indigenous leader Berta Caceres, whose assassination by Honduran death squads in March is a major blow to the struggle of her people for social justice and liberation.
By Beverly Bell


The orphan
Regarded as one of the greatest and most original writers of modern Arabic literature, the Syrian writer, playwright and poet Muhammad al-Maghut (1934-2006) was a pioneer of Arabic free verse.
By Muhammad al-Maghut

For subscription and enquiries:

131 Jalan Macalister,
10400 Penang,

Tel: 60-4-2266728/2266159; Fax: 60-4-2264505;


Third World Resurgence Page