It’s the dramatic rise of China with its burgeoning economy that has put the Trump administration into a frenzy – with major implications both at home and abroad, argues MICHAEL BURKE
Latest editorial
G7 tax reform: is neoliberalism drawing to a close?
The announcement by the G7 countries that they would introduce a global minimum tax for corporations is a clear shift in the economic order, writes JAMES MEADWAY
From left, EU's Economy Commissioner Paolo Gentiloni, Eurogroup President Paschal Donohoe, World Bank President David Malpass, Italy's Finance Minister Daniele Franco, French Finance Minister Bruno Le Maire, Canada's Finance Minister Chrystia Freeland, Britain's Chancellor of the Exchequer Chancellor Rishi Sunak, Managing Director of the IMF Kristalina Georgieva, Germany's Finance Minister Olaf Scholz, U.S. Treasury Secretary Janet Yellen, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann, Japan's Finance Minister Taro Aso pose for a family photo as finance ministers from across the G7 nations meet at Lancaster House in London
DR DAVID GORDON SCOTT tells the story of the North Sands Massacre, Sunderland, as part of the ongoing work of remembrance of those killed by soldiers during the 1825 Seafarers Strike and the bicentennial commemorations on Sunday August 3
MATT KERR charts his bike-riding odyssey in aid of the Royal Marsden charity and CWU Humanitarian Aid
JOHN CALLOW tells of the rise, fall and rise again of a young martyr to the early French republic, Joseph Bara, whose short life was elevated by Robespierre and, later, others for its emotional and ideological appeal
April 9 1928 – July 26 2025
OLIVER SNELLING, a south London stonecarver and yeoman stonemason, relates how he is helping bring about a new festival next month
FOR 40 years or more, governments holding fast to neoliberal principles have set in train what US Treasury Secretary Janet Yellen rightly called a “race to the bottom” on global taxation, as countries deluded themselves that lower corporation taxes would mean more investment and more growth.
This deal is the clearest sign yet that the days of neoliberalism — the belief in privatisation, low taxes for the rich and subservience to the market — are finally drawing to a close.
Giant corporations were able to exploit the rules on international taxes, originally drawn up for a very different world in the 1930s, to almost pick and choose where and how much tax they paid.
More from this author
Already the extremism of the new Argentinian president’s administration is being watered down in the face of reality – but now the Chinese central bank has cut funding it could be in serious trouble, writes JAMES MEADWAY
JAMES MEADWAY looks at the multiple emerging crises, most linked to climate change, that will lead to price rises for consumers and bumper profits for big business. The solutions, however, are simple
An early adherent of free-market fundamentalism, at Thatcher's side throughout her most damaging years, Lawson attacked our unions, industry and the very fabric of our society, writes JAMES MEADWAY
The Bank of England has been swinging its interest rate bludgeon for the last year, and the wreckage is starting to pile up, warns JAMES MEADWAY
