So far, a mere ten countries account for an astonishing 75 percent of global vaccinations. 130 countries have received not yet received a single dose. “Vaccine equality,” the UN observes, “is the biggest moral test before the global community”.
Common Weal head of policy & research Craig Dalzell continues his series on the economic impact of the Coronavirus by looking at global shipping. There is an aspect of our modern world that is so ubiquitous that it is bizarrely visible. It just “happens” to the point that we barely think about it. We have […]
As the world economy contracts, global debt surges. The IMF have said it will increase by 13 per cent to reach 96.4 per cent of GDP this year. Global debts are the highest they have been since WWII, at a staggering $250 trillion. That debt takes many different forms: some of it, like UK Government […]
Time for a global debt revolt?
“Even if we somehow stabilise the economy faster than I suspect is possible, an inevitably reappraisal of financial asset values will follow – and that means insolvent banks. It’s hard to see how they could be rescued this time.”