rate of return on capital

Ulhas Joglekar uvj at vsnl.com
Wed Apr 17 17:23:11 PDT 2002


From: Doug Henwood <dhenwood at panix.com


> Ulhas Joglekar wrote:
>
> >I agree with Doug, but why "developing" is in inverted commas?
>
> Because it's an optimistic euphemism that hides maldevelopment,
> subordination, and the long-term failure to narrow the north-south
> income gap.

China would cease to be a developing nation, if these criteria were applied. After 50 years of 'socialism', China has barely reached per capita income of $2 per day.

Surely, there was enough maldevelopment and subordination, when the North was "developing"?

Ulhas



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