Daily Archives: April 25, 2013

Kate Allen

New dormitories for Chinese workers may appear to have little to do with the deaths of hundreds of textile workers in Bangladesh. But in today’s globally interconnected economy one may be the fabled butterfly to the other’s subsequent hurricane.

Chinese workers’ demands for better conditions and higher pay have been driving manufacturers to seek cheaper alternatives. That has brought many textile firms to Bangladesh, which is reputed to have the lowest textile industry wages in the world – and they have certainly been increasing much more slowly than those in China. Read more

Kate Allen

Today’s preliminary data on economic growth in the first quarter of 2013 must have triggered a sigh of relief in Downing Street, showing as they do a slight – very slight – increase in GDP and thus bucking predictions that the country was sliding into an ignominious triple dip recession.

But the Chancellor shouldn’t feel too relieved; in actuality, we have no idea whether the country grew in the past three months. Read more