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Issue No. 237 (May 2010)
COVER:
The spending cuts frenzy and the danger of a double-dip recession
Will
'austerity' lead to a new recession?
The sudden policy shift in developed countries from 'fiscal stimulus'
to 'austerity budgets' is causing concern that this will stem the economic
recovery and lead to a new global recession.
MARTIN KHOR
The
Great Reversal: From fiscal expansion to fiscal austerity
The shift in policy response to the current recession, from stimulating
growth through fiscal expansion to reducing budget deficits by slashing
public spending, is starkest in Europe.
JAYATI GHOSH
The
danger of a double dip
A regime of ruthless spending cuts at this juncture when recovery is
still fragile, risks a recurrence of the recession which was overcome
by debt-financed public funding.
CP CHANDRASEKHAR
Bad
economic policy still biggest threat to global economic recovery
Europe's current problems and those
of the world economy can only be resolved in the context of a growing
economy.
MARK WEISBROT
Recovery
or reform?
G20 rift remains behind show of unity
While the final communique from the Goup of 20 summit sought to conceal
the unresolved differences within this group with a compromise of sorts,
it has given a boost to the European drive for deficit cutting.
T RAJAMOORTHY
Emergency
room to intensive care and... recovery or relapse?
The Bank for International Settlements has come out on the side of those
pressing for fiscal consolidation and reducing burgeoning fiscal deficits.
CHAKRAVARTHI RAGHAVAN
IMF
puts the squeeze on developing countries
Fiscal austerity measures are being pushed through not only in Europe,
but also by the International Monetary Fund (IMF) in many developing
countries.
BHUMIKA MUCHHALA
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ECOLOGY
China's
soils ruined by overuse of chemical fertilisers
To stop the harmful effects on cropland soils, researchers in China
recommend reducing the use of chemical fertilisers, rather than phasing
them out altogether.
MAE-WAN HO
The
relentless pursuit of extreme energy
The oil spill in the Gulf of Mexico
is the logical outcome of a government-backed corporate drive to exploit
oil and natural gas reserves in extreme environments under increasingly
hazardous operating conditions.
MICHAEL T KLARE
CLIMATE
CHANGE
Setback
for poor nations as climate talks end
The latest round of UN climate talks ended with developing countries
strongly criticising a new draft of a global deal which eliminated some
of their most important proposals.
MARTIN KHOR
WORLD
AFFAIRS
The
Saville report on Bloody Sunday: Another act of imperial penitence
The finding by the Saville inquiry has been met with the usual acts
of ritual penitence by the British government.
JEREMY SEABROOK
HUMAN RIGHTS
UN
expert criticises targeted killings, US drone attacks
The international community has to be more forceful in demanding accountability
for extrajudicial killings, including such targeted killings by the
use of drone aircraft, says a UN rapporteur.
KANAGA RAJA
WOMEN
Women
electrical workers at centre of struggle for jobs
In Mexico, a new generation of women
workers is emerging to defend labour rights.
DANIELA PASTRANA
MEDIA
Lying
about the Gaza
flotilla attack
MJ Rosenberg sifts fact from fiction
about the goals of the Gaza-bound relief flotilla and Israel's blockade of Gaza which it attempted to break.
MJ ROSENBERG
VIEWPOINT
FIFA
profits beat players, people and planet
Despite the hype about how the staging of the World Cup football tournament
benefits South Africa, the rewards to society
are outweighed by the burdens.
PATRICK BOND
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