The atrocious attacks on New York's twin towers were aimed at an iconic symbol of US wealth and economic domination. Among the thousands of lives claimed by the suicide attackers were many low-paid cleaners, shop and office workers, and also undocumented immigrant workers laboring under the tyranny of neo-liberal economic laws. At the same time, the bombers did inflict massive damage on the world's biggest financial centre and on the important air transport industry, and sent shock waves through the US and world economy. What will be the effects on the world economy over the coming months and the next few years?
THE UNKNOWABLE CONSEQUENCES of likely US military action and its repercussions make it difficult to predict the trajectory of the world economy. Nevertheless, it is already clear that the events of 11 September will reinforce and aggravate the serious worldwide downturn into which the global economy was already rapidly sinking.…
