Index
Akhilesh Chandra Prabhakar
(Universiti Utara Malaysia (UUM), India)
ISBN: 978-1-78635-158-6, eISBN: 978-1-78635-157-9
Publication date: 19 December 2016
This content is currently only available as a PDF
Citation
Prabhakar, A.C. (2016), "Index", The Current Global Recession, Emerald Group Publishing Limited, Leeds, pp. 429-430. https://doi.org/10.1108/978-1-78635-158-620161017
Publisher
:Emerald Group Publishing Limited
Copyright © 2017 Emerald Group Publishing Limited
INDEX
Adjustable rate mortgages (ARMs)
, 59, 63, 68
Alibaba (Internet)
, 102
Antagonisms
, 80–86
Anti-Dühring
, 116–118
ARMs. See Adjustable rate mortgages (ARMs)
ASEAN
China-ASEAN trade treaties
, 359
export growth
, 361–362
gateway to
, 360–361
IMF expects
, 280
Austerity
, 54
vs. growth
, 141, 267–268
imposition of
, 31
Australia’s Nine Entertainment
, 100
Baidu (Internet)
, 103
Balance sheet recession
, 45–46
Banks collapse, in United States
, 220
Brazilian economy
, 8
BRICS (Brazil, Russia, India, China and South Africa)
, 214
background of
, 293–296
critical review of
, 317
de-dollarisation, China–Russia economic corridor for
, 313–317
economic growth slowdown in
, 241–243
economic performance in
, 214
endemic inflation
, 317–318
overview of
, 312
to U.S. dominance
, 296–312
Bright Food (Consumer Goods)
, 102
Capital accumulation
, 5
Capital and commodity bubbles
, 385–386
Capital and Theories of Surplus Value (Smith, Adam)
, 110
Capital-exporting country
, 56
Capital flows and bubbles
, 383
Capital formation
, 5
Capital inflows
budget issues in United States
, 246–247
current-account balances
, 243
exchange-rate regimes
, 244
external debt
, 243–244
fiscal policy
, 248–249
foreign reserves
, 244–245
international policy coordination
, 253–254
monetary policy
, 250–253
policy challenges
, 247–248
risks in Euro area
, 245–246
uncertainties
, 246–247
Capitalism
, 78–80
crisis of
, 129–134
and growth
, 178–180
triumph of
, 396
two basic principles of
, 261
Capital-owners and labour
, 6
CCPIT. See China Council for the Promotion of International Trade (CCPIT)
CDO. See Collateralised debt obligations (CDO)
CDS. See Credit default swaps (CDS)
Centralisation
, 73–78
of capital
, 402–403
China
automotive industry
, 335–336
competent Chinese business agency
, 326
currency
, 329–331
development strategy
, 325
dollar dominance
, 330–331
economic slowdown
, 282
external trade
, 342–344
FDI policy
, 344–345
global investments
, 327–328
as great power
, 331
growth and adjustment in
, 380–382
historical facts
, 323–325
hydro-electric project
, 328–329
investment in Nepal
, 351–356
journey from commune to company
, 320–321
labour and welfare
, 338–342
manufacturing facilities
, 331
rural-urban migration
, 321–323
services
, 336–337
steel industry
, 335
tourism
, 337–338
China-Africa deal in
, 2011, 357–358
China-ASEAN trade treaties
, 359
China Council for the Promotion of International Trade (CCPIT)
, 369
China–India trade treaties
, 365
China Investment Corporation (CIC)
governance
, 346–348
holdings
, 351–356
international advisory council
, 348–351
China–Malaysia tie-up
, 362–363
China–Russia trade treaties
, 365–370
China’s diaspora
, 363–364
China–United States trade treaties
, 370–371
China-West Asia and Africa economic tie-up
, 356–357
Chinese economy
, 92
Chinese slowdown, on other developing countries
, 382–383
CIA World Factbook
, 38
Clinton administration
, 64
CNOOC (oil and gas)
, 101
Collateralised debt obligations (CDO)
, 60
Commodity bubble
, 401
Commodity capitals
, 113
Commodity Futures Modernization Act of
, 2000, 67
Commodity price
, 71–72
Communist Manifesto
, 114
Community Reinvestment Act
, 64, 65
Consumer price index (CPI)
, 225
Corruption, Chinese culture of
, 92, 103
Credit default swaps (CDS)
, 67
Crisis
, 31–32
developing nations
, 278–282
in Greece
, 265–266
impacts
, 262
lessons from
, 386–387
Crony capitalism
Chinese companies going global in
, 2014, 100–103
in corruption
, 91
definition of
, 91–93
in developing economies
, 103
greater inequality and poverty
, 104–106
literature
, 93–94
market economy
, 95
neo-classical models
, 91
overview
, 94–95
of United States
, 95–98
Crony Capitalism Index
, 98–100
Current-account balances
, 243
Cyprus market
, 276
DAC. See Development Assistance Committee (DAC)
Dalian Wanda
, 101
Debt crisis spreading
, 271–272
Debt-to-GDP ratio
, 38
Demand-depressing effect
, 58
Depreciation pressures, developing countries
, 231–233
Depression, Keynes’ ideas
, 74–78
Development Assistance Committee (DAC)
, 230
Discipline vs. solidarity
, 268–269
Dollar dominance
, 330–331
Domestic demand
, 15–17
Economic development
, 214
Economic activity, slowdown of
in China
, 282, 382–383
in India
, 282–284
Economic growth
artificial surplus population
, 186–191
capitalism and growth
, 178–180
creative destruction
, 191–193
innovation pessimism
, 177–178
liberating
, 193–197
machine
, 183–186
society of superabundance
, 198–200
stagnation and decline
, 181–183
war, impetus of
, 180–181
Economic justice
, 32
Economic Policy Institute
, 104
Economic recession
, 35, 58
EEU. See Eurasian Economic Union (EEU)
Energy demands
, 278
Enterprise vs. speculation
, 85
Environmental sustainability
, 32
Eurasian Economic Union (EEU)
, 292
European Social Democracy
, 76
European Union (EU)
dilemmas
, 266–267
vs. nations
, 269–270
and world economy
, 259–260
Eurozone growth
, 262–263
Ever-expanding flow
, 107
Exchange-rate regimes
, 244
External shocks
, 240–241
Fairness and equity
, 403–404
Falling real wages
, 57–58
False advertising
, 65
Financial crisis
, 37
Financial innovation and complexity
, 68–70
Financial Institutional Crash of
, 2007–2008, 390
Financial interests, mercy-killing of
, 74
Financial markets crashed
, 274
Fiscal policy
, 248–249
Foreign direct investment (FDI)
, 5, 295
into Indonesia
, 384
intra-BRICS balance
, 397
Fosun Group
, 102
Free market capitalism
, 4
Garn-St. German Depository Institution Act
, 66
Geely (Automotive)
, 102
General Agreement on Trade & Tariffs (GATT)
, 343
General Motors
, 8
Germany, financial market of
, 275
Glass-Steagall Act of
, 1933, 66
Global
, 2000, 100
Global economic recession
life after crisis
, 377–380
new crisis
, 375
pro-active
, 376–377
Global economic scenario
, 7–10
Global economic system
, 4
Global economy
recessions in
, 12
World Bank
, 203
Global financial crisis
eruption of
, 242
structural causes of
, 10–13
Global imbalances
, 235–236
Global system, financiarisation of
, 28–30
Gold standard
, 276–277
Great Crash
, 75
Great currency
, 331
Great Depression
, 3
of 1930s
, 36, 57
Greater income inequality
, 404–407
Greater inequality
, 17–20
Great power
, 331
Great Recession and Great Depression
balance sheet recession
, 45–46
definition of
, 39–42, 50–51
IMF prediction
, 43–44
liquidity trap
, 46
predictors
, 46–47
Reagan–Volcker–Carter recession
, 48–50
stock markets
, 47–48
psychological aspects
, 45
recession and business cycle
, 36–39
type
, 44–45
Gross domestic product (GDP)
of China
, 212
developed and developing countries
, 212–213
falling
, 221
falling per year
, 211
growth
, 7, 9, 203–204, 206–207
of India
, 212
in New Zealand
, 222
of United States
, 212
Growth fears
, 271
Growth of world output
, 2007–2015, 216–219
Gulf Cooperation Council (GCC)
, 224
Hegemonic class endorses
, 55
Hilton Worldwide
, 100
Huawei
, 101
Human capital
, 36
India
China–India trade treaties
, 365
economic slowdown
, 282–284
GDP
, 212
Inflation
, 225–226
International Monetary Fund (IMF)
, 3, 10
International trade
, 235
Investors
confidence in economic leadership
, 260–261
foreign investors
, 384
Japan, first annual trade deficit
, 277
Jobless growth model
, 259
Keynesian intervention
, 398–400
Keynesianism today
, 134–136
Law the Gramm-Leach-Bliley Act
, 66
Least developed countries (LDCs)
, 85
Lenovo
, 101
Li-Ning (Consumer Goods)
, 103
Low-income countries
, 210
Malaysia’s trade
, 364–365
Malthus’ theory
, 110
Marx’s capital
, 152–155
Mortgage-backed securities (MBS)
, 60
The Myth of the Robber Barons, (Folsom, Burton W. Jr.)
, 94
National Bureau of Economic Research (NBER)
, 41
National Population Register (NPR)
, 61
Neoclassical economics
, 4
Neo-liberal ideologues
, 81
Neo-liberalism
antagonisms
, 80–86
capitalism
, 78–80
centralisation
, 73–78
commodity price
, 71–72
de-regulation
, 66–68
economic recession
, 58
external stimuli
, 56–57
falling real wages
, 57–58
financial innovation and complexity
, 68–70
foreign funds, low interest rates and large inflows of
, 59–63
IMF’s capital control regimes
, 86–87
people vs. nations, structural inequality
, 88–89
predatory lending
, 65–66
shadow banking system
, 70–71
structural crisis
, 54–55
sub-prime lending
, 63–65
systems failure
, 72–73
theoretical understanding
, 89–90
New crisis, scenarios on
, 408–410
New Development Bank (NDB)
, 295
Official development assistance (ODA)
, 230
Oligopolies
, 397, 411
Optimistic and pessimistic scenarios
, 208–209
Overproduction and underconsumption
anti-Dühring
, 116–118
austerity vs. growth
, 141
grundrisse
, 150–152
Hayek, on credit and crisis
, 129–134
inherent contradiction
, 118–122
Keynesianism today
, 134–136
labour theory of value
, 145–148
lowering profitability
, 168–171
Malthus’ theory
, 110
Marx’s capital
, 152–155
production’s sake
, 148–149
profitability
, 162–168
profit to fall
, 144–145
push down wages
, 125–128
rate of profit
, 111–112
reproduction process
, 112–114
Say’s law
, 108–110
survey of literature
, 108
tendency
, 155–160
theory of overproduction
, 114–116
trade imbalances
, 136–140
TRPF
, 160–162
unlimited expansion
, 124–125
use-values
, 122–124
Over-the-counter (OTC) derivatives market
, 67
Plutocracy
, 103
Policy recommendations
, 408–409
Poverty
, 5, 104–106
The Poverty of Philosophy
, 394
Prices, primary commodities
, 234–235
Pro-active
, 410–411
Push down wages
, 125–128
Quantitative easing (QE) programmes
, 228
Reagan–Volcker–Carter recession
, 48–50
Sany (Diversified Industrial)
, 102
Say’s law
, 108–110
Science, technology and innovation (STI)
, 6
Securities and Exchange Commission (SEC)
, 64
Settler colonies
, 56
Shadow banking system
, 70–71
and financial bubbles
, 400–401
Shuanghui International
, 101–102
Skilled and less-skilled workers
, 6
Small- and medium-sized enterprises (SMEs)
, 221
Social Democracy
, 75
Socialising costs and privatising gains
, 32–33
Special Drawing Rights (SDRs)
, 10
Spillovers
, 263
Structural crisis
, 54–55
Struggling exporters
, 277–278
Sub-prime lending
, 63–65
System failure
, 401–402
Tactical Command Center (TCC)
, 74
Technology
capitalism
, 181, 187
capitalism and growth
, 178
information and communication
, 175
and innovation
, 180, 182
mobile
, 175
Tencent (Internet)
, 102
Traders
, 270
Trade treaties
China-ASEAN trade treaties
, 359
China–India trade treaties
, 365
China–Russia trade treaties
, 365–370
China–United States trade treaties
, 370–371
Transnational state (TNS)
, 74
Twitter
, 100
Uncertainties
and risks
, 237
risks associated with QE
, 238–240
Unemployment
, 226–228
Unequal exchange rate systems
, 26–28
Unequal trading patterns
, 26–28
Unfair business practices
, 65
United States
budget issues in
, 246–247
debt ceiling crisis
, 263–265
dominance, BRICS
, 296–312
financial markets
, 274, 275–277
jobless rate
, 259
and world economy
, 259–260
Urban-centred development model
, 5
Vulnerable banks
, 272–274
World Bank
, 30, 203, 205
World capitalism
, 393
World economic crisis
, 3
World GDP
, 21–23
World gross product (WGP)
, 205, 215
World output growth
, 213
World trade
, 213
W-shaped, or double-dip recessions
, 44
ZTE (Telecommunications)
, 102
- Prelims
- Part 1 Theoretical Investigation
- 1 Introduction
- 2 The Great Recession and the Great Depression
- 3 Collapse of Neo-Liberalism: The Debate
- 4 Crony Capitalism
- 5 Overproduction and Underconsumption
- 6 Technology and Economic Growth
- Part 2 Empirical Investigation
- 7 Global Economy — An Enquiry
- 8 Income, Poverty and Inequality
- 9 BRICS: A New World Economic Order
- 10 China: A New Business and Economic Leader
- 11 The Global Economic Recession: South Perspective
- 12 Conclusion
- Bibliography
- Index