PRI's The World » global recession

Comparing global debt

The World — Fri, 03 Dec 2010 20:55:31 +0000

Anchor Lisa Mullins speaks with John Micklethwait, Editor-in-Chief of The Economist, about the differences between US and European approaches to deficit reduction. While US politicians continue to debate what to do with the deficit, some European politicians have gone ahead with drastic cuts to reduce their countries’ debt. Download MP3

One Spanish town’s recession

The World — Thu, 29 Oct 2009 20:23:32 +0000

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In Spain the economic crisis is hitting small towns particularly hard. Many villages got rich during the country’s housing boom. And they assumed they’d keep getting richer. So they borrowed lots of money. But then real estate went bust and their collateral, undeveloped public land, lost its value. Now, basic public services such as trash pick-up are going neglected in places such as the tiny mountain village of Collbato, in northeast Spain. The World’s Gerry Hadden just returned from Collbato, and has the story.

Wall Street still central to global economy

The World — Mon, 14 Sep 2009 21:11:44 +0000

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Photo by Urban via Wikimedia Commons

Just after Lehman Brothers collapsed, there was talk that Wall Street would cease to be perceived as the center of the global financial universe. But now, a year later, The World’s Jason Margolis finds that there is life in an on Wall Street yet.

President’s new financial rules

admin — Wed, 17 Jun 2009 17:14:05 +0000

President Obama announced his proposed new rules for the U.S. financial industry today. Anchor Marco Werman explores the global implications with Grep Ip, U.S. Economics Editor for The Economist magazine. Listen

Swine Flu and the Global Recession

Jason Margolis — Wed, 29 Apr 2009 19:02:46 +0000

The US Commerce Department released some grim economic news today. The US economy contracted at a 6.1% clip in the first quarter of 2009. Not good news for those who thought the new year might bring an economic up-tick. But, of course, what’s on everyone’s mind this morning is…swine flu. So, for our Global Economy podcast this week, we thought we’d find out how the two stories are linked. The World’s Matthew Bell begins with a report on how a swine flu pandemic might affect the already shaky global economy. To follow, we interview Michael Osterholm at the Center for Infectious Disease Research and Policy. He’ll flip the question on its head, and look at how the shaky global economy might affect our preparedness for a swine flu pandemic.

Also in this week’s podcast, we’ll take you to Ireland to hear how the once-vaunted Celtic Tiger has lost some of its bite of late. Unemployment is currently running at around 11%, which is twice what it was just a year ago. In fact, the Irish government recently announced a five year “austerity” program.

Then to Spain, where unemployment is even worse — 17%. So many people are out of work that the Spanish government has recently opened a soup kitchen in a Madrid suburb to help feed those without jobs.

And we end with a report on micro-lending in Cambodia. While many South Asian banks teeter on the brink of insolvency, ACLEDA is thriving. It lends to the poor, at an average of just $500 per loan.