Zombie companies are those whose profits are so low they can’t even pay the interest on their debts. They’re becoming an increasingly large part of the economy — and they risk pitching us into another full-scale crisis.
Nicolás Aguila is a PhD student at the Department of Politics, Philosophy, and Economics, Universität Witten/Herdecke, Germany.
Argentina’s public health response to COVID-19 was far better than Jair Bolsonaro’s disastrous mismanagement in Brazil. Yet as the two countries seek to rebuild, both are enfeebled by their subordinate place in the global financial system, a subordination that is threatening to turn today’s shock into a protracted crisis.