[Marxism] Interesting Developments

[S. Artesian]

That's a fine philosophical, abstract view of history, but it says nothing 
about the current, concrete economic conditions.

1. China is not escaping a "dollar trap," if such a thing even exists, as it 
continues to concentrate its purchases of US Treasury instruments.  I think 
82% of its reserves are in dollar denominated vehicles.

2. China remains a poor, agricultural country, with areas of concentrated 
industrial activity.  Half the population is tethered to the rural economy.

3. China contributes, and garners, very little of the value added in its 
exports.

.

----- Original Message ----- 
From: "Marv Gandall" <marvgandall at videotron.ca>
To: <sartesian at earthlink.net>
Sent: Friday, May 22, 2009 8:52 AM
Subject: Re: [Marxism] Interesting Developments