2008-2018: capitalism's lost decade 10 years ago, on 15 September 2008, Lehman Brothers – one of the largest and oldest investment banks in the world – filed for bankruptcy after being engulfed by the subprime mortgage scandal.
China: a trade war the bourgeois can get behind World politics is a never-ending drama with Trump as President of the United States. From the G7 bust-up to the North Korea negotiations, he never fails to create waves. Now Trump is preparing a full-scale trade war with China, with potentially devastating consequences for the world economy.
Trump’s war on globalisation On Thursday the deadline passed for an agreement between Trump and Canada, Japan, Mexico and the EU on trade. Failure to reach an agreement meant that the steel and aluminium tariffs threatened by Trump came into force. With this, Trump has begun the process of unravelling globalisation. On Saturday, the G-7 finance ministers met and the 6 non-US ministers came together against the US, expressing their “unanimous concern and disappointment” over the US decision.
