[PEN-L:1496] Re: Re: Russia: China to the Rescue?

[Gregory Schwartz <grishas@xxxxxxxx>]

Certainly $540 is 'peanuts' (well, peanuts in comparison with the social
costs currently and, maybe, eventually to be borne)

I was commenting on the irony of it all. Whilst most developed
capitalist states are (like Japan) in dire straits or (like the EU
countries) have pledged to abstain from further lending to Russia and
the IMF is supposedly out of money, it is China which has, as it
appears, 'come to the rescue'. This despite the fact that only 15 years
ago China was relatively 'backward' on the 'development' scale in
comparison even to the (itself stagnating) USSR.

Greg.


James Devine wrote:

> At 02:31 PM 9/3/98 -0500, you wrote:
> >What's this world coming to?
> >
> >***
> >CHINA TO THE RESCUE? While President Clinton linked
> >additional economic assistance to concrete reform
> >measures, China is willing to provide $540 million in
> >aid to Russia, according to Britain's "The Guardian." On
>
> $540 million?? that's peanuts compared to the problems faced.
>
> Jim Devine jdevine@xxxxxxxxxxxxxxx &
> http://clawww.lmu.edu/Departments/ECON/jdevine.html



--
Gregory Schwartz
Department of Political Science
York University
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