“Dr. Doom” Nouriel Roubini, says the “perfect storm” scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China. In May, Roubini predicted four elements – stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China,…
Fiscal watchdogs and Republican lawmakers are expressing dismay at new figures showing the U.S. debt has now exceeded the nation’s economic output, a threshold used by President Obama’s fiscal commission in 2010 to warn that massive federal deficit spending would sink the U.S. economy. According to the Bureau of Economic Analysis, the U.S. gross domestic product…
By Peter Wallsten, Published: October 20 The Occupy Wall Street protests that began as a nebulous mix of social and economic grievances are becoming more politically organized — with help from some of the country’s largest labor unions. Labor groups are mobilizing to provide office space, meeting rooms, photocopying services, legal help, food and other necessities to the…
11/11/11 05:00 PM ET Growing up in a diplomatic family you learn to keep your nose to the wind, and read the writing on the wall, in case political turmoil suggests a flight for the border. The skills were useful doing business in South America, helping me skip one step before revolutions started. In South…
TNN Jul 26, 2010, 12.09am EST Globalisation and the allure of cheap labour have led many an MNC to set up their manufacturing units in India. These companies represent the best brands of the world, where landing a job means a jump in social status, hefty pay packages and a promise of a better life. Yet,…
By Marianne Barriaux (AFP) – 8 hours ago BEIJING — China’s manufacturing heartland has been hit by large-scale strikes in recent weeks, as an increasingly demanding workforce faces off with employers struggling with high costs and falling exports. Thousands of workers in factories in the southern province of Guangdong have gone on strike in recent…
By James Pomfret DONGGUAN, China | Fri Nov 25, 2011 1:10am EST (Reuters) – In factory towns across China’s export powerhouse in the Pearl River Delta, a vicious cycle of slowing orders from the West and increasing wage pressures has led to a series of major strikes that could reverberate through the economy. From shoe and bra factories…
By Paul Abelsky July 6, 2009 (Bloomberg) — Russia may face outbreaks of labor unrest last seen in the 1990s as manufacturing slumps at a record pace and companies struggle to pay employees, according to a study by Moscow’s Higher School of Economics. “Spontaneous demonstrations demanding payments in owed back-pay and such protests as hunger…
By SANTANU CHOUDHURY NEW DELHI—Labor unrest continues to plague the Indian industry with workers at the country’s top car maker by sales stopping work and resorting to violence, while those at the world’s largest coal producer temporarily halted work Monday demanding higher bonus. The strikes at Maruti Suzuki India Ltd. and Coal India Ltd. reflect simmering…
Analysis “Common good.” The phrase is used 22 times in the 11 pages of the recent “note” from the Pontifical Council for Justice and Peace urging reform of the international financial and monetary systems. The document also speaks of “common dignity,” “common vision,” “common decisions” and of “universal brotherhood.” In fact, the needs of the…
