> Joanna:
> > Typical crisis of accumulation/over-production, no?
> Yes, but that crisis has not- and will not do capitalism in. It can be
> solved by expansion into new markets - just think China, India, E Europe,
> Russia, and in the next round - Africa. So I am not holding my breath.
Indian capitalism is having a robust growth in last 25 years, but it is still largely driven by domestic market and domestic savings. It's impact on the world economy is small. India's share in the world trade and global capital flows is 0.70% and 0.50% respectively. India is also among the less indebted countries in the world.
I think Africa's share in the world trade is also less than 1%, but I am not sure.
Ulhas