Chicago Tribune (September 13)
Chicago “like other major cities around the world, is a global city, a hub in the global economy, and that economy is on the ropes.” But “globalization is no unalloyed blessing.” Some would rather say goodbye to this “powerful economic force that richly rewards some and impoverishes others.” We can’t. “For better or worse, the global economy is the only economy we’ve got. Like the industrial economy before it, it is flawed, often cruel, but it pays the bills. If Chicago is to mend its divisions, it will have to do it with the money it reaps from its status as a global city.”
Tags: Chicago, Cruel, Economic force, Flawed, Global economy, Globalization, Impoverishes, Industrial economy, Major cities, Powerful, Rewards
Financial Times (September 4)
“The US manufacturing sector has contracted for the first time in three years as the US-China trade war weighted on the industrial economy and added to fears over slowing domestic growth.” While one quarters manufacturing results do not necessarily lead to a US recession, “the details of yesterday’s ISM report were ugly, with new orders, production and employment sub-indices all contracting.”
Tags: China, Contracted, Fears, Growth, Industrial economy, ISM, Manufacturing, Orders, Recession, Slowing, Trade war, US
