Hunger and Blackouts Are Just the Start of an Emerging Economy Crisis. “Turmoil triggered by rising food and energy prices is already gripping countries like Sri Lanka, Egypt, Tunisia and Peru. It risks turning into a broader debt debacle and yet another threat to the world economy’s fragile recovery from the pandemic.” https://archive.ph/J4t3Z
Mongolia has seen a wave of protests in response to soaring inflation. The demonstrators have rallied around the slogan “we want to live” https://www.jacobinmag.com/2022/04/mongolia-protests-anti-inflation-mpp-socialism-neoliberalism
“Malawians to experience more blackouts. “Malawi is set to lose 78 Megawatts of electricity this week and power outages in the country will be lasting 8 hours per day…”
https://malawi24.com/2022/04/19/malawians-to-experience-more-blackouts/
Eight-Hour Blackouts Hit India After Hottest March Since 1901 “Although outages aren’t uncommon in India, the situation this year particularly points to a “looming power crisis,” said Shailendra Dubey, chairman of All India Power Engineers Federation, an advocacy group.” https://www.bloomberg.com/news/articles/2022-04-21/eight-hour-blackouts-hit-india-after-hottest-march-since-1901
Power cuts, strong dollar weigh on South Africa’s rand. “South Africa’s rand dropped on Tuesday, when the country’s ailing power utility ramped up scheduled power cuts that constrain growth in the continent’s most industrialised nation.”
https://www.reuters.com/world/africa/south-african-rand-steady-eyes-eskom-flood-impact-2022-04-19/
What Booming Commodity Prices Mean for the Fed. “Booming commodity prices, particularly related to food and energy, are worsening an already inflationary environment… [however] central banks do not have an instrument to address inadequate or uncertain supply.”
https://www.bloomberg.com/news/articles/2022-04-20/transcript-what-booming-commodity-prices-mean-for-the-fed
Who will save the world economy? As sharp slowdowns threaten, there seems to be no obvious saviour to the multitude of problems hammering countries…
“…there is no driving force able to save the world this time around [as China did after the GFC].” https://archive.ph/P0Gqe
China’s rising household debt is shattering dreams of financial freedom, and ‘fears are spreading’. “Salary reductions, lay-offs, lockdowns and regulatory crackdowns are upending the lives of those who were once the envy of China’s middle class.” https://archive.ph/6QtUt
Commodity prices are going haywire, prompting fears of the next financial crisis. “This volatility has not only helped fuel levels of inflation not seen in 40 years —market observers are warning that it could put the stability of the global economy at risk… “Commodity speculation is largely unregulated because there are no position limits, or the limits are so high that they’re meaningless,” Kelleher said.” https://www.marketwatch.com/story/commodity-prices-are-going-haywire-prompting-fears-of-the-next-financial-crisis-11650378691
Protests sweeping Peru strand tourists and close copper mines. “Thousands of Peruvians joined a two-day strike in the Cusco region on Monday and Tuesday over the soaring cost of fuel, fertiliser and food… The unrest in Cusco followed weeks of protests across the country in which at least five people died in clashes with the police.” https://archive.ph/7dZNb
Moroccan Trade Union Calls for Protests Against Soaring Prices.
“The Moroccan Social Front will hold marches this weekend in more than 20 cities across the country, protesting against rising living costs. The front also hosted a video conference on Thursday, April 21 tackling rising prices, energy security, and government responsibility in the matter.” https://www.moroccoworldnews.com/2022/04/348511/moroccos-trade-union-calls-for-protests-against-soaring-prices