[lbo-talk] [Pen-l] Marxist final exam for Keynesians

[Fernando Cassia]

On Wed, Oct 5, 2011 at 18:56, Doug Henwood <dhenwood at panix.com> wrote:
> Does Argentina need foreign financing over the long term or is it more or less self-sufficient? How'd it pay for oil imports and such?

So far we've been maintaining so-called "twin" superavits (fiscal and
trade surpluses).

The effects of the current global crisis remain to be seen. Currently
most of our exports go to China and Brazil...

If China slows down it could drive down the price of commodities and
Brazil could stop buying out manufacturing industry's exports.

But that is a big "IF". It's way better nowadays than in the days
(1998 or thereabouts) where any crisis somewhere in a dark corner of
the world triggered a cut in the speculative capital inflow and an
instant slowdown.

Hopefully, most of the recovery has been consumer-driven, in the local market.

FC