As long as the system is closed and the regulators powerful, they can restructure liabilities at will to prevent a collapse. More likely is a very long and costly financial adjustments as Beijing slowly cleans up what is becoming an increasingly zombified banking system.
The neo-liberal state has become a guarantor of corporate profits and engineer for increased inequaltiy . This has to change. . Read here
Analysis of Europe’s Farmer revolt. In New Left Review’s ‘Sidecar’. Read the article HERE.
The holiday provider’s collapse highlights corporate governance and regulatory failures while the gravy train for directors continued. Read here
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