The Albanese government’s third budget provides the lion’s share of benefits to the well-off, the military and favoured sectors of the capitalist class and fails to address the major social problems facing the Australian working class—falling real wages and housing stress.
China’s boom is well and truly over. Through the 2000s, the economy enjoyed double-digit annual growth. Now, few expect it to hit the 5 percent target announced at this year’s National People’s Congress.
Almost half the world’s population now lives in countries that spend more on debt servicing than on basic social welfare, a situation being described as “the worst debt crisis since global records began”.
