Tag: industrial shortages

War in Ukraine, Globalization’s Apocalypse

28 March, 2022 · Global situation

BlackRock headquarters
BlackRock headquarters

The CEOs of two of the largest US funds, BlackRock and Oaktree, have issued open letters to their shareholders on the occasion of the war in Ukraine in which they pronounced the end of “globalization” and set out broad guidelines for the world’s corporate giants. These encyclicals have enormous prescriptive power among the corporate bourgeoisie. The global turn to the War Economy is happening too fast and the “Gospel of post-globalization” can hardly wait.

Industrial shortages and the workers

8 October, 2021 · Global situation

Industrial shortages. Yesterday in Spain.
Industrial shortages. Yesterday in Spain.

Industrial shortages are not just a British problem. In Spain they cut industrial output and weigh down the “recovery” despite rising demand. In Germany, the entire industrial production is being disrupted. Chaos reaches such a point that US industrialists call for a truce in the trade war against China and China is unblocking Australian coal imports. But make no mistake, all of these are part of what the EU calls “a war-like effort”. The world’s supply chains are on the verge of collapse.

Industrial shortages and the fifth wave: a precursor to an upsurge in the crisis and an exacerbation of economic nationalism

25 July, 2021 · Global situation

Ships are piling up at the mouths of the ports while industrial shortages are worsening.
Ships are piling up at the mouths of the ports while industrial shortages are worsening.

The industrial shortage is not limited to chips anymore. Hundreds of large companies are stopping production at different points in the global chain. The EU and Japan, fearful that U.S. harassment of Chinese products will affect their international investments, are pushing for accelerated repatriation of low-profit but high-impact industries. However, the new Covid wave and the floods in Germany and China have shown that industrial destocking and its aftermath for workers -temporary layoffs and even more precariousness…-are not a passing phenomenon.