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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 282.58+8.6%Feb 6 9:30 AM EST
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To: tom pope who wrote (1697)12/8/1997 1:34:00 AM
From: Gus  Read Replies (1) of 9256
 
Good point, Tom. It's going to be interesting to see the capitalist purists at the IMF try to untangle the financial mess created in part by the US which overtly and covertly brokered all sorts of deals with a motley assortment of dictators and centralized governments up and down Asia as part of the cold war. Crony capitalism is really nothing more than a byproduct of the Cold War economics that involved the good ole carrot and stick. The US line: Give us a stable front against the communists and you and your cronies get access to our financial and domestic markets while you can protect yours. Be a tottering domino and start to lose control and you're going to vacation indefinitely in Hawaii just like Marcos.

This is not to excuse the obvious structural inefficiencies in place, though, because Lee Kuan Yew, the Singapore dictator, has proven that changes are necessary and possible to implement; but, it should at the very least temper that jingoistic insistence on strictly overlaying a very successful 220 year old American capitalist structure over cultures that have been free-trading for thousands of years.

As the late Mao Tse Tung was fond of pointing out to all those US-sponsored dictators and generals whom he routinely invited to the Mainland, " You can't change the map." This was his way of saying, " Get what you can from the big guy, but sooner or later you are going to have to deal with us."

Regards,

Gus
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