Human costs compound as finance-engineered asset bubbles burst. Liquidity is evaporating worldwide as the cash crunch spreads from under-saved, under-employed households to over-levered governments and businesses.
First they had no pay, and then no work. For a time, there wasn’t even food in the squalid, concrete camps where they had been abandoned to live in the searing heat of the Saudi Arabian desert. Medical supplies dried up two months ago.
Owed weeks and weeks of back pay from construction companies squeezed by the kingdom’s economic slowdown, thousands of foreign laborers from South Asia face the grim uncertainty of how long their plight will continue.
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