>>> Rakesh Bhandari <bhandari at Princeton.EDU> 04/06/00 08:05PM >>>
Just to clarify. Even assuming that unit labor costs were not to rise as
the entire US based industrial reserve army of labor is called into action,
capital still confronts a looming labor shortage due to the immensity of
the capital that is being accumulated--Greenspan is only being honest here.
This has given a special virulence to the drive to open up abroad zones of exploitation to which constant capital that would otherwise build up as excess capacity due to a domestic labor shortage can be exported and valorized--I think this is the most important context in which the China question should be considered.
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CB: Oh yes, the transnational bourgeoisie is not interested in the Chinese "market" as a source of demand for goods. It is only interested in the worker half of the worker/consumer. The bourgeoisie constantly in search of new markets has nothing to do with the free laborers having wages and spending them.
CB
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