Re: China

[Juan Jose Barrios <jota@xxxxxxxxxxxxxx>]

Nonsense. Are you suggesting that SOEs dont matter?? do you have any idea of the # or people
living in SOEs today?? Put them together and your face will turn blue....jj

Sven R Larson wrote:

> Bruce McFarling wrote:
> >
> > 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
>
> You may be right about the micro states in the Caribbean, but they are as relevant to a
> general analysis as are the city states of Europe (Monaco, San Marino, Andorra). But
> even with exports reduced to its proper macroeconomic role - the cost of imports - you
> should keep in mind that a country can run a trade deficit for decades and still make it
> to the top of the prosperity league. Denmark is an evident example.
> /srl
>
> --
> Sven R Larson
> Ph.D.; Assistant professor of economics
> Department of Social Sciences, 22.2
> Roskilde University
> PB 260
> DK-4000 Roskilde, Denmark
> http://www.ruc.dk/english/