[lbo-talk] Does Trade With China Matter?

[Elena Bernal]

John Gulick - 'The material well being of the US
working class is artificially elevated by the fact
that the world economy still rests (although
decreasingly so) on the pure dollar standard, i.e. a
standard which allows the US to initiate expansionary
economic policies (such as Bush the 43rd’s latest orgy
of military Keynesianism) without having to pay the
deflationary piper down the road. That segment of the
super-exploited Chinese working class employed in the
PRC’s massive export sector subsidizes the US’
expansionary economic policies (and hence the material
well being of the US working class as a whole) because
a big portion of the PRC’s huge hard currency receipts
are parked in US T-bills and other dollar denominated
assets.'

A 'weak link,' or the 'weak link,' in 'capitalist
globalization and u.s. imperialism' - <http://info.interactivist.net/print.pl?sid=04/02/27/1522245>?

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