Dennis,
<<At the obviously exploitive wage levels that most of the work forces in these countries work at, the chances of developing a domestically based demand for the products that these economies manufacture is nil. >>
<<The idea that distribution of wealth and the inequity of it is not something to be concerned about is ridiculous. I guess it's fine if you live in a isolated economy such as a third world dictatorship with an abundance of exploitable natural resources?
>>
I am curious, when is the last time you visited Kuala Lumpur, Singapore, Jakarta, Shen Zhen, Manila, or Shanghai? Have you not seen suggestive of some of the comments I get from folks back in the U.S. about their vision of life here. The fact is, is that life here since the post war decline of colonialism has improved remarkably. the burgeoning middle class in these places? Dennis, your post is Education, medicine, and even the appearance of some social welfare programs where there was none before. Flat none. This isn't a land of all sleepy, grass hutted villages, with half naked inhabitants being exploited by neo colonialist. But then again, these are not countries where a federal register grows exponentially year by year and unions get semi skilled assembly workers $70,000 a year in wages either.
Has there been excessive corruption? Sure. Has there been excessive investment and a greed driven bubble here. Sure. But before you go wagging a finger at employers and governments and banks, you need to get a better understanding of what has been happening here.
best,
Stitch |
