[lbo-talk] Capitalism's new markets

[Marvin Gandall]

True, although my understanding is that, while Hamburg is the busiest port
in Europe, a lot of the components and finished products for export
increasingly come from German subsidiaries in Poland and elsewhere in
Eastern Europe and as far away as China and Mexico. I've also read where the
reluctance of German consumers to spend results from economic insecurity
about outsourcing as well as benefit cuts - unemployment is running at or
near double digits - and German capitalists have successfully played on
these fears to restrain wage demands by their unions.

----- Original Message ----- 
From: "Doug Henwood" <dhenwood at panix.com>
To: <lbo-talk at lbo-talk.org>
Sent: Monday, February 27, 2006 11:27 AM
Subject: Re: [lbo-talk] Capitalism's new markets


> Marvin Gandall wrote:
>
>>Here is another article, this one from the Economist, illustrating how
>>untethered from their countries of origin the largest multinationals are
>>becoming as the result of rapid technological change in transportation and
>>communications.
>
> Though in the German case, it's more exports than foreign operations of
> MNCs that are doing so well. Domestic demand in Germany is weak because
> consumers won't spend.
>
> Doug
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