[lbo-talk] Russia's economy

ravi ravi at platosbeard.org
Tue May 15 20:58:36 PDT 2007

On 11 May, 2007, at 2:18 PM, Doug Henwood wrote:
> On May 11, 2007, at 1:58 PM, ravi wrote:
>> I am curious... what has China created in a global scale? State
>> sponsored knock-offs like Huawei and ZTE? I can't think of any
>> (mostly due to my ignorance of China). Do they have a GM, Honda,
>> Boeing, Citibank, Pepsico, Monsanto, Johnson & Johnson, P&G, GE,
>> Viacom/Murdoch, Nokia, Microsoft, Google, 3M, .....?
> They've got Lenovo and Haier, but it was a nation of rice paddies 25
> years ago!

But Lenovo is what it is due to (among other things) an acquisition of IBM's PC business -- something IBM was glad to shed rather than continue to play in a commoditised and cut-throat market. That's an ongoing trend -- from underwear to memory chips. I am not sure what Haier does and am too lazy to look it up. Someone else (or you) mentioned Huawei and ZTE. Especially regarding the former, I would suggest a second look at their history.

Re: 25 years ago, didn't China go nuclear quite a long time before that? That would require quite a bit of scientific and technical knowledge, infrastructure, etc?

In fact, it seems to me that if China could go from rice paddies to Lenovo in 25 years, Russia, which is already scientifically/ technically ahead (of China and India) -- a point I have tentatively put forth without being challenged -- what is the fear for their future? The lack of the aforementioned investment? Is there something in the Russian culture/politics/etc that prevents this transformation?


More information about the lbo-talk mailing list