Issue No. 237 (May 2010) 
COVER: The spending cuts frenzy and the danger of a double-dip recession Will 'austerity' lead to a new recession?
The sudden policy shift in developed countries from 'fiscal stimulus' to 'austerity budgets' is causing concern that this will stem the economic recovery and lead to a new global recession.
MARTIN KHOR The Great Reversal: From fiscal expansion to fiscal austerity
The shift in policy response to the current recession, from stimulating growth through fiscal expansion to reducing budget deficits by slashing public spending, is starkest inEurope.
JAYATI GHOSH The danger of a double dip
A regime of ruthless spending cuts at this juncture when recovery is still fragile, risks a recurrence of the recession which was overcome by debt-financed public funding.
CP CHANDRASEKHAR Bad economic policy still biggest threat to global economic recovery
Europe's current problems and those of the world economy can only be resolved in the context of a growing economy.
MARK WEISBROT Recovery or reform?
G20 rift remains behind show of unity
While the final communique from the Goup of 20 summit sought to conceal the unresolved differences within this group with a compromise of sorts, it has given a boost to the European drive for deficit cutting.
T RAJAMOORTHY Emergency room to intensive care and... recovery or relapse?
The Bank for International Settlements has come out on the side of those pressing for fiscal consolidation and reducing burgeoning fiscal deficits.
CHAKRAVARTHI RAGHAVAN IMF puts the squeeze on developing countries
Fiscal austerity measures are being pushed through not only in Europe, but also by the International Monetary Fund (IMF) in many developing countries.
BHUMIKA MUCHHALA | ECOLOGY China's soils ruined by overuse of chemical fertilisers
To stop the harmful effects on cropland soils, researchers inChina recommend reducing the use of chemical fertilisers, rather than phasing them out altogether.
MAE-WAN HO The relentless pursuit of extreme energy
The oil spill in the Gulf of Mexico is the logical outcome of a government-backed corporate drive to exploit oil and natural gas reserves in extreme environments under increasingly hazardous operating conditions.
MICHAEL T KLARE
CLIMATE CHANGE
Setback for poor nations as climate talks end
The latest round of UN climate talks ended with developing countries strongly criticising a new draft of a global deal which eliminated some of their most important proposals.
MARTIN KHOR
WORLD AFFAIRS
The Saville report on Bloody Sunday: Another act of imperial penitence
The finding by the Saville inquiry has been met with the usual acts of ritual penitence by the British government.
JEREMY SEABROOK
HUMAN RIGHTS
UN expert criticises targeted killings, US drone attacks
The international community has to be more forceful in demanding accountability for extrajudicial killings, including such targeted killings by the use of drone aircraft, says a UN rapporteur.
KANAGA RAJA
WOMEN
Women electrical workers at centre of struggle for jobs
In Mexico, a new generation of women workers is emerging to defend labour rights.
DANIELA PASTRANA
MEDIA
Lying about the Gaza flotilla attack
MJ Rosenberg sifts fact from fiction about the goals of the Gaza-bound relief flotilla and Israel's blockade of Gazawhich it attempted to break.
MJ ROSENBERG
VIEWPOINT
FIFA profits beat players, people and planet
Despite the hype about how the staging of the World Cup football tournament benefits South Africa, the rewards to society are outweighed by the burdens.
PATRICK BOND For subscription and enquiries: THIRD WORLD NETWORK
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