It would appear then that growth or slowdown in the US economy is largely driven by factors internal to the US economy. That far from the US imperialism requiring the rest of the world for extended reproduction of capital in the US (as assumed by the traditional theory of imperialism), it is the capitalism in rest of world (or at least very large part of it) that requires the capital accumulation in the US for its own growth. Would that be accurate description of the relationship between the two? And if this is case, the US economy far from being a obstacle to the growth elsewhere, may in fact be a condition for it. Or am I missing something?
Ulhas
-Maybe it could work in the two ways? While the USA, by sustaining a huge trade deficit stimulates the growth of export oriented economy, which, in turn, invest their dollars in the USA thus helping to keep this deficit manageable. However, if those claims that the USA was growth was equal to 95% of worldwide growth (maybe this is somewhat inflated due to currency conversions?), the the equation remains laregly favorable to the USA.
Alexandre
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