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| 22/05/26 6:20:11 | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, [6], 7, 8 ] |
| Subject: Food for thought | |
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Author: Xing xi Mu (wsws) |
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Date Posted: 26/11/05 13:26:23 "Should Beijing begin to withdraw the $252 billion it has lent to the US government, the dollar would plummet on world currency markets, US interest rates would skyrocket, and the United States would be thrown into a massive recession, with incalculable consequences for world financial stability". ..."The weakened position of the US in evidence throughout Bush’s Asian tour is not simply a matter of the crisis of a single administration. More fundamentally, Bush’s diplomatic problems reflect the objective decline in the world economic position of American capitalism". "The US’ staggering trade and payments deficits with China, and its dependence on continued Chinese funneling of its dollar holdings into US government securities, is one powerful expression of the relative economic decline of the United States. And this dependence has very real political implications. As the New York Times wrote ruefully in a November 23 editorial: "Beijing’s leaders are in no mood to listen to lectures from an American government that depends on Chinese surpluses and savings to finance its supersized budget deficits."" Barry Grey in WORLD SOCIALIST WEB SITE 25 November 2005 [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| O capitalismo é um tigre de papel... | Não há pachorra... | 26/11/05 18:21:27 |
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