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Michael Roberts blog

Blogging from a Marxist economist

Recent Analysis

Canada: no change

Canada’s Liberal Party prime minister Justin Trudeau has managed to get re-elected for the third time in the snap general election he called.  The Liberals won or were leading in 158 seats out of a total of 338 seats, and the Conservatives trailed the Liberals, winning or leading in 122 seats, four more than theirContinue reading “Canada: no change”

Not so Evergrande

China’s Evergrande Group is the second largest property developer in China and it is teetering on the brink of bankruptcy.  Evergrande has hired ‘restructuring advisers’ and warned that its liquidity is under “tremendous pressure” from collapsing sales, facing protests by home buyers and retail investors.  Based in Shenzhen in southern China, Evergrande is saddled withContinue reading “Not so Evergrande”

China and common prosperity

Back in May the Chinese government set up a special zone to implement ‘common prosperity’ in Zhejiang province, which also happens to be the location of the headquarters of several prominent internet corporations– Alibaba among them.  And last month, China’s President Xi Jinping announced plans to spread “common prosperity”, heralding a tough crackdown on wealthyContinue reading “China and common prosperity”