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  • Monthly Review Essays

About C.P. Chandrasekhar

C. P. Chandrasekhar is currently Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. He has published widely in academic journals and is the co-author of Crisis as Conquest: Learning from East Asia (Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (Leftword Books) and Promoting ICT for Human Development: India (Elsevier).
  • An effigy of US President Donald Trump dressed as a jester is seen at a protest in Washington, DC, on 5 February 2025 (Drew Angerer/AFP)

    The United States and the Bretton Woods Twins

    Originally published: IDEAs (International Development Economics Associates) on May 13, 2025 (more by IDEAs (International Development Economics Associates))  |

    With President Donald Trump and his team launching an aggressive attack on international institutions and threatening to pull out from many of them, there has been speculation about whether they would adopt the same strategy with respect to the Bretton Woods institutions.

  • Photo: Ignacio Amenábar

    Trump 2.0: An inflection point for global capitalism?

    Originally published: IDEAs (International Development Economics Associates) on March 19, 2025 (more by IDEAs (International Development Economics Associates))  |

    “This is a new form that inter-imperialist relations have taken. It is not the old form of inter-imperialist rivalry that precipitated world wars.”

  • Price pain: It is not the supply-side pressures but profiteering by agribusiness majors that is driving food prices | Photo Credit: SUSHIL KUMAR VERMA

    A food crisis not of their making

    Originally published: The Hindu Businessline on September 19, 2022 (more by The Hindu Businessline)

    The crisis in low, middle-income nations is driven by speculation, falling purchasing power and depreciating currencies.

  • Financial market

    Capital flight from emerging markets

    Originally published: IDEAs (International Development Economics Associates) on July 26, 2022 (more by IDEAs (International Development Economics Associates))  |

    Financial markets in the so-called ‘emerging economies’ are in turmoil. At the end of May 2022, the Financial Times reported that the return delivered by emerging market (EM) sovereign bonds was around minus 15 per cent for 2022, the worst since 1994.

  • Lovely Wheat field

    Why are global wheat prices rising so much?

    Originally published: IDEAs (International Development Economics Associates) on June 14, 2022 (more by IDEAs (International Development Economics Associates))  |

    The global food crisis has now grown to such proportions that everyone is talking about it (even though world leaders are doing relatively little about it).

  • Debt campaigners protest the impact of "vulture funds" on Argentina outside the office of Elliott Advisors, owners of NML Capital, in New York in February 2013.

    How emerging markets hurt poor countries

    Originally published: Boston Review on October 13, 2021 (more by Boston Review)  |

    Financial globalization was supposed to spur development. Instead, it transfers money to the global North and exacerbates existing inequalities.

  • Bilateral US deficits with China

    What has the Trade “War” between the United States and China achieved?

    Originally published: IDEAs (International Development Economics Associates) on October 5, 2021 (more by IDEAs (International Development Economics Associates))  |

    On July 6, 2018, U.S. President Donald Trump unilaterally imposed a 25 per cent tariff on Chinese imports of around $34 billion, and further tariffs in 2018 and 2019—claiming that trade between U.S. and China had been unfairly skewed in China’s favour and needed to be rebalanced.

  • Even in the U.S. public investment far outweighed private investments

    Is public investment holding up global capitalism’s dynamism?

    Originally published: The Hindu Business Line on September 6, 2021 (more by The Hindu Business Line)  |

    Capitalism is supposed to be all about economic growth, through the dynamism that is created by competition. This growth is meant to be driven by investment (or accumulation) which, in turn, is used to justify the shares of national income that are delivered to private profits, to the owners of capital.

  • Source for Figures 1-3: The State of Food Insecurity and Nutrition in the World 2020, FAO and others

    Hunger, again

    Originally published: IDEA's (International Development Economic Associates) on February 23, 2021 (more by IDEA's (International Development Economic Associates))

    The world has been preoccupied with the COVID-19 pandemic, and this has also affected policymakers everywhere. There is much more recognition today of the terrible effects of underfunding public health over decades and how this affects the resilience of economies and societies.

  • GameStop Liquidation (Wikimedia Commons)

    Changing the speculative game

    Originally published: IDEA's (International Development Economics Associates) on February 8, 2021 (more by IDEA's (International Development Economics Associates))  |

    January proved to be an unusual month in the U.S. equity market. The shares of GameStop, a brick-and-mortar retailer of gaming consoles and video games, had in the course of that month risen by close to 2000 per cent.

  • Projected Wealth Inequality (Photo: Wikimedia Commons)

    Prepare for a surge in Global inequality

    Originally published: IDEA's (International Development Economics Associates) on January 12, 2021 (more by IDEA's (International Development Economics Associates))  |

    The evidence clearly is that the Covid-crisis has upended the fiscal conservatism that has been the hallmark of the neoliberal era since the 1980s.

  • Bilateral swaps’ role in China’s rising global footprint.

    Bilateral swaps in China’s global presence

    Originally published: Business Line on December 14, 2020 (more by Business Line)  |

    China’s use of yuan-denominated central bank swaps, while enhancing its influence, is a source of support for developing countries in an unequal international order.

  • China’s economy has rebounded sharply after declining in the first quarter of 2020 - Bloomberg

    Growing divergence between China and ‘Developing Asia’

    Originally published: The Hindu Business Line on November 2, 2020 (more by The Hindu Business Line)  |

    The past year has brought into sharp relief the significant differences between China and the rest of the world.

  • Work load: Rural women spend nearly six and a half hours every day in unpaid activities - Kamal Narang

    It’s all work and no pay for most women in India

    Originally published: The Hindu Businessline on October 5, 2020 (more by The Hindu Businessline)

    The NSSO’s time use survey reveals striking facts about how men and women in India spend their time very differently, with women hugely burdened by unpaid work

  • Clash of the titans The US-China conflict has adversely affected global investments and supply chains

    COVID-19 adds new dimensions to U.S.-China trade war

    Originally published: The Hindu Business Line on May 19, 2020 (more by The Hindu Business Line)  |

    The Trump regime is ratcheting up its protectionist rhetoric vis-à-vis China. If this leads to new sanctions, it would worsen the COVID-induced trade crisis rather than help the U.S.

  • Bleak future Economic scenario may worsen in the coming months - sorbetto

    Growth figures underscore economic crisis amidst COVID

    Originally published: The Hindu Business Line on May 6, 2020 (more by The Hindu Business Line)  |

    Early evidence on the intensity and drivers of the COVID-induced crisis in the U.S. and Europe suggests that the official response may lengthen the recession and delay recovery

  • Wikimedia Commons File:S. Mitra, IAS in a press conference with Nirmala Sitharaman

    A niggardly response to an extraordinary crisis

    Originally published: IDEAs (International Development Economics Associates) on March 29, 2020 (more by IDEAs (International Development Economics Associates))  |

    In a show of solidarity, some of India’s opposition leaders have declared the much-delayed relief package (titled Pradhan Mantri Garib Kalyan Yojana) announced by Finance Minister Nirmala Sitharaman on March 26 to mitigate the effects of the Coronavirus pandemic on the poor as a welcome “first step”.

  • Fine Gold (Global Intergold)

    No escape from low growth

    Originally published: IDEAs (International Development Economics Associates) on February 11, 2020 (more by IDEAs (International Development Economics Associates))  |

    Discussions on the state of the world economy centre around the likely negative impact of the novel coronavirus epidemic and the potential positive effect of the truce reflected in the “phase 1” trade deal between China and India.

  • Enrique Mendizabal - WTO

    End of the free trade myth

    Originally published: IDEAs (International Development Economics Associates) on December 4, 2019 (more by IDEAs (International Development Economics Associates))  |

    “Is that a big deal?”, some may ask. It is to those who have pushed for achieving the far-reaching liberalisation of trade in an unequal global order, first under the General Agreement on Tariffs and Trade (GATT), and then under the auspices of the agreements that established the WTO and defined and expanded its remit.

  • us federal reserve

    A rate cut that failed to please

    Originally published: Economic and Political Weekly on Vol. 54, Issue No. 32, August 10, 2019 (more by Economic and Political Weekly)  |

    On 31 July, the United States Federal Reserve System (U.S. Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that it would put an end to its policy of selling chunks of its holdings of securities, so as to unwind its bloated balance sheet.

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