27-05-2003 12:04									#61
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The fact that the Chinese govt allows the MNCs to use Chinese labor is an export oriented strategy. By using this strategy China is investing in the US. China gets dollars from the trade surplus and the dollars usually end up back in US capital markets.

I had a longer post, but it got lost. I'll post some more on this later.

	27-05-2003 15:38									#62
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quote: Originally posted by Shi Huangdi Moreover, even if wage rates did sucsesfully increase for some people in those countries creating a demand for consumer goods, that demand could likely end up being filled by industrialized nations rather than domestically.

Which is one reason why free trade doesn't work for LDCs.

The East Asian countries that have successfully developed, or are developing strongly, are the ones that had economic controls, particularly currency control mechanisms: Japan, South Korea, Taiwan, Singapore, Mainland China, and Hong Kong.

	27-05-2003 15:43									#63
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quote: Originally posted by Kidicious I would say that right now it depends on the US. The whole world depends on US demand. If we could change that it would be great. I would like to see Japan develope its domestic economy. That would do wonders for China. As long as China is just a source for cheap labor growth will be restrained there though. They need to make changes, and those changes are the topic in this thread.

Japan has a strong domestic market. The Mainland Chinese domestic market is growing stronger every day.

As well, the Chinese economy is growing at about 8 per cent has done so for the past decade or so. What makes you think that economic growth there is restrained?

	27-05-2003 15:46									#64
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I'm reading Fast Food Nation. It makes me question who has weak labour laws, developed countries or LDCs.