Structural imbalances in the global economy and the consequences for labour.

The financial crisis exposed serious structural imbalances in the global economy. For example, the character of the crisis in the Eurozone reflected persistent current account deficits in Spain, Portugal and Greece, which were the mirror image of persistent surpluses on the part of other countries, notably Germany. A similar relationship has developed between China and the USA. The consequences of these and other global imbalances for labour are, however, not well understood. The aim of this project is to establish the nature of the connections. It will enhance understanding of the linkages between ’financialisation’, credit, FDI and work and employment.