Prabhat Patnaik | The French economist J B Say had believed that there could never be a problem of aggregate demand in any economy, that whatever was produced was ipso facto demanded.

The latest tariff measures won’t be the last. The US elite is determined to strangle the Chinese economy, not only to ‘protect’ its weakening industrial sectors, but also eventually bring about ‘regime change’ in China itself. The US reckons it still has time as China and the so-called BRICS nations are still well behind the economic and financial power of the US-led imperialist bloc.

The recently announced EU-China principally agreed investment deal is a watershed moment, marking a first EU-China investment deal of its kind that would open the doors for the EU to make direct investment in China. China will also have opportunities to expand its reach in the European market. While the deal would yield numerous benefits to the parties involved, it also has very visible geo-political strings attached to it, which involve not only the EU and China, but the U.S. as well. The EU-China deal is being seen in the U.S. both by the Trump administration (which is already in a state of ‘trade war’ with China) and the Biden administration as a set-back to their stated policy of following a ‘tough’ approach to China.

Utsa Patnaik | The farmers’ movement for the repeal of the three farm laws which affect them closely but have been rammed through without consulting them, has now entered its second month. It is of historic significance. It is not just about minimum support prices but also about the survival of the entire system of public procurement and distribution of foodgrains. Without ensuring the economic viability of foodgrains production in North India — the grain basket of the country — no continuity can be ensured for the public procurement and distribution system, which, despite its drawbacks, continues to provide a modicum of food security to vast numbers of our population.

"Until now, only England, France and Australia have been allowed to buy large, armed drones from U.S. manufacturers, according to data collected by The Center for the Study of the Drone at Bard College in New York state. Jordan, Romania, Saudi Arabia and UAE have shown interest in purchasing U.S. systems and will be among the first customers in line when the U.S. policy changes, one of the industry executives said."