Concerns that we could be headed for a repeat of the 2008 financial crash are intensifying, a day after stock markets around the world entered what’s known as “bear market” territory; a fall of 20 percent or more.
The anxiety is being driven by China’s economic slowdown and the continuing slide in the price of oil.
Some economists now fear the global financial system has become dangerously unstable.
The number of stock prices that have hit new lows have made it a turbulent start to the new year.
Some traders are also worried that all this market volatility coincides with central banks being less willing – or less able – to revive the economy
So, why does the global economic system seem to lurch from one financial crisis to another? And is another one imminent?
Presenter: Nick Clark
Ann Pettifor, director of Policy Research in Macroeconomics, also known as PRIME. Ann is also author of: “Just Money: How Society can Break the Despotic Power of Finance”.
Vicky Pryce, chief economic adviser at The Centre for Economic and Business Research.
Anastasia Nesvetailova, director of the City Political Economy Research Centre at City University in London.