A man walks by a residential building still under construction in the newly developed, exclusive Hudson Yards neighbourhood in Manhattan, New York City, on September 13. While financial crises come and go with increasing frequency, the next one could be the “mother” of them all. Photo: Getty Images / AFP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

Why the next global financial crisis may dwarf the one in 2008

  • Big risks today include the nonbank financial sector and high corporate debt. There are more ‘zombie companies’ now than at any time during the 2008 crisis, while huge dollar liabilities in banks outside the US and emerging market indebtedness add to the dangers

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A man walks by a residential building still under construction in the newly developed, exclusive Hudson Yards neighbourhood in Manhattan, New York City, on September 13. While financial crises come and go with increasing frequency, the next one could be the “mother” of them all. Photo: Getty Images / AFP
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Students in London demonstrate against education funding cuts in 2011. Photo: AFP
David Dodwell
Opinion

Opinion

Inside Out by David Dodwell

Capitalism is in crisis. It cannot be business as usual for very much longer

  • Capitalism has been keeping shareholders happy with merger mania, tax avoidance and an unhealthy preoccupation with share price that has inflated CEO pay beyond the reasonable
  • It is time for a painful reset to focus instead on economic growth and improving livelihoods – or risk jeopardising capitalism itself

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Students in London demonstrate against education funding cuts in 2011. Photo: AFP
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