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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (8549)	12/12/2007 12:00:37 AM
From: pogohere	Read Replies (1) \| Respond to of 33421

from Bloomberg: "These strategic advantages are a powerful magnet for the investors, entrepreneurs and innovators who are pioneering new fields and creating good jobs. But when the federal government builds walls around industries, it also blocks the exploration of new frontiers. Countries that offer open and fair access to new frontiers will be the winners in the new global economy, while those that build barriers will increasingly see their productivity decline and their innovators move elsewhere. The opportunities created by globalisation will raise salaries and living standards for American families, but the transition can be difficult. The way to help workers affected by globalisation is not to prop up uncompetitive industries, but to assist the people who are displaced, so that they do not bear the costs of globalisation alone. This means strengthening our support of displaced workers and increasing investment in them, so that we can help them acquire the skills that the new economy demands." One of the first acts of the US Congress under the new constitution was the enactment of tariffs to protect domestic industries. Until the early 20th century there were no income taxes, "Yankee ingenuity" run wild and tremendous growth accompanied by attempts by foreign and domestic bankers to privatize the money franchise. They even went so far as to shrink liquidity to get their way. That's what happened in 1907 that was used to hoodwink the Congress and Pres. Wilson into creating the Federal Reserve in 1913. Globalisation has us exporting our domestic manufacturing, our know how and our jobs and incomes. Does anyone really believe that any government effort will happen that will effectively ". . .assist the people who are displaced, so that they do not bear the costs of globalisation alone. This means strengthening our support of displaced workers and increasing investment in them, so that we can help them acquire the skills that the new economy demands" ? Poppycock and balderdash. Just as all fiat currencies are not the same, all tariff regimes are not the same. A blanket endorsement of globalisation such as that of Bloomberg is mindless and ahistoric.

To: John Pitera who wrote (8549)	12/13/2007 5:06:51 AM
From: GUSTAVE JAEGER	Read Replies (1) \| Respond to of 33421

Re: Some in the west believe that a growing Chinese economy is a threat. As a businessman, and now as mayor of the world’s largest financial capital, I believe the opposite is true: Chinese growth is, in fact, an opportunity for the US and the world, because the global economy is not a zero-sum game. We all share in each other’s success. My current read: Adam Smith in Beijing: Lineages of the Twenty-First Century (Hardcover) by Giovanni Arrighi (Author) amazon.com Editorial Reviews Book Description An authoritative exploration of China's emergence as the most dynamic center of economic and commercial expansion in the world today. In the late eighteenth century, the political economist Adam Smith predicted an eventual equalization of power between the conquering West and the conquered non-West. In this magisterial new work, Giovanni Arrighi shows how China's extraordinary rise invites us to read The Wealth of Nations in a radically different way than is usually done. He examines how the recent US attempt to bring into existence the first truly global empire in world history was conceived in order to counter China's spectacular economic success of the 1990s, and how the US's disastrous failure in Iraq has made the People's Republic of China the true winner of the US War on Terror. In the 21st century, China may well become again the kind of non-capitalist market economy that Smith described, under totally different domestic and world-historical conditions. *About the Author* Giovanni Arrighi is Professor of Sociology at Johns Hopkins University. His books include The Long Twentieth Century, and his work has appeared in many publications, including New Left Review. Product Details Hardcover: 420 pages Publisher: Verso (November 13, 2007) [...]