[lbo-talk] Superprofits

[Michael Dawson -PSU]

Yes, and China is also the only Second/Third World society that possesses a
ruling class that is consciously copying what Japan started doing after the
Meiji Restoration -- state-led, import-substituting industrial capital
accumulation, with an eye to eventual Great Powerhood.  You can be sure
that, if the U.S. had been able to shove its IMF-shod foot through the door
after the socialist roaders self-immolated 25 years ago, China would look
even worse than Russia now does.


----- Original Message -----
From: "Doug Henwood" <dhenwood at panix.com>
To: <lbo-talk at lbo-talk.org>
Sent: Wednesday, November 05, 2003 2:52 PM
Subject: Re: [lbo-talk] Superprofits


> andie nachgeborenen wrote:
>
> >Wouldn't the US capitalist class do
> >much better, collectively, if China were rich and
> >buying boatloads of goods made by US companies?
>
> Japan has been selling lots of capital equipment to China. Little
> appreciated fact: China is running a large trade surplus only with
> the U.S. Except for the U.S., Chinese trade is roughly in balance.
>
> Doug
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