GLOBAL PRODUCTION & EXPORTS UP TO SEPTEMBER 2022. Reviewing the latest edition of the CPB Global Monitor as well as recent data on the world economy.

Please Note: Michael Roberts has responded to the criticism of him over his China position in this article. “On China, it is not correct to say that I think China has ‘socialist characteristics’.  Or at least I would not put it that way.  For me, China is not a capitalist economy (yet) but is a transitional economy like the Soviet Union was or Cuba is.  But it is ‘trapped’ like they were (are) within the confines of imperialism globally and the lack of workers democracy domestically.  It is not socialist but also not capitalist.  Nothing is black and white.” My short reply was that this was to confuse the political superstructure with the economy which is market led and driven. Clearly this is one of the essential debates of our time, and I would suggest a possible Zoom meeting to thrash out the differences.