Re: China

[Bruce McFarling <ecbm@xxxxxxxxxxxxxxxxxxx>]

On 06 Mar 2002 20:12:17 -0800, Wed, 06 Mar 2002 23:21:58 -0500
Warren Mosler <mosler@xxxxxxxx> wrote:

>Relying on exports for what?  Debt service that can be ignored without
>penalty?  Exports are the costs of imports, not some kind of 'benefit.'

Relying on exports to finance the growth in imports that are an
inescapable concomittant of growth in small, open economies.
Take, for example, the small Caribbean micro-states of the
Eastern Caribbean ... with imports corresponding to half or
more of GDP, the external finance constraint is something
that bites quick and hard.

Virtually,

Bruce McFarling, New Lambton, NSW
ecbm@xxxxxxxxxxxxxxxxxxx