[Marxism] The class nature of the Chinese state
marvgandall at videotron.ca
Wed Oct 24 20:26:40 MDT 2007
> Semicolonies have "limited financial resources" not because their
> Central Banks are full of global money (after World War II, Argentina
> had such a positive trade balance that the passageways at the basement
> of the Central Bank were, in 1945 and 1946, literally clogged with
> bars of gold: this did not make the country less of a semicolony), but
> because imperialist-fueled distortion of the economic structure makes
> it impossible for them to thrive without a "wage" that has to be
> earned in the foreign market.
> Financial distress is structural here, and it creates the necessity
> for compulsory unequal exchange, low wage level, etc.
China is not Argentina, and is nobody's semi-colony. It's a major player in
the world economy, and is recognized as such by the G7 nations whose
economic interests are very much affected by policy decisions made in
Beijing. The US has been dependent on China as a source of capital and, as
the American economy slows, the hope is that it will become the buyer of
last resort, as well.
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