[lbo-talk] China's growth

Doug Henwood dhenwood at panix.com
Thu Jul 21 07:04:30 PDT 2005


James Heartfield wrote:


>Uhlas: "Don't China's exports to the developed world make
>substantial contribution to economic growth?"
>
>It certainly does, but those exports also make a substantial
>contribution to indigenous development (which was not always the
>case when the 'comprador' capitalist class subordinated Chinese
>development to foreign investment in the early 20C.). China's
>development today is pushed forward by funds from returning
>expatriate Chinese traders, not foreign investment alone.

There's also the issue of power - the Chinese are in control of the whole process of development. No advice from the World Bank or the economics faculty of Chicago or Harvard.

Doug



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