Reasons to support war on Iraq

Ulhas Joglekar uvj at vsnl.com
Fri Feb 14 17:20:03 PST 2003


Alexandre Fenelon wrote:
>>As China gets further integrated with the world economy, it will be
>> subjected the global boom and bust cycle.


> -Agree with you, that´s the risk of going too far with reforms. Is it
> -too late?

Your guess is as good as my guess.


> -Massive public debt that led to a very high taxes (36% of GDP) while
> -1/3 of public expenses are used to pay interest rates and another
> -1/3 is used to pay for the Social security deficit. So public investment
> -is almost 0, while overall investment rate is near 20% of GDP.
> -High current account deficit (almost 5% of GDP until last year when
> -a big devaluation of our currency led to a dramatic improvement of
> -trade balance, however, this is somewhat artificial and only can
> -be sustained by a prolonged recession. Excessive denationalization
> -of economy due to privatization, now that our currency is devaluated
> -the new owners of privatized enterprises consider investment
> -unatractive. External debt near 40% of GDP.
> -Reults: Annual GDP growth 1994-2002=2,3%. Population growth=1,2%/year

Are their protest in Brazil and elsewhere in Latin America against Iraq wr?

Ulhas



More information about the lbo-talk mailing list