I recall a book [maybe called "under the hammer] that described that trade.
On Thu, Jul 21, 2005 at 01:23:08PM -0400, Doug Henwood wrote:
>
> As I recall, the Japanese did something very similar in the late 19th
> century - buying discarded British textile machinery, and not only
> using it, but learning from it, while the Brits were busy investing
> their surplus funds abroad. The US is different - we're borrowing
> funds from abroad!
>
> Doug
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-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu