Five years after the Great Financial Crisis of 2007–09 began there is still no sign of a full recovery of the world economy. Consequently, concern has increasingly shifted from financial crisis and recession to slow growth or stagnation, causing some to dub the current era the Great Stagnation. Stagnation and financial crisis are now seen as feeding into one another.
The Global Stagnation and China
John Bellamy Foster (jfoster [at] monthlyreview.org) is editor of Monthly Review and professor of Sociology at the University of Oregon. Robert W. McChesney (rwmcches [at] uiuc.edu) is Gutgsell Endowed Professor of Communications at the University of Illinois at Urbana-Champaign.