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The running argument between the US/UK and the Eurozone while the Asian foxes are cleaning both hen houses is quaint.
by Richard Lyon (rllyon@gmail.com) on Wed Aug 30th, 2006 at 01:00:07 PM EST
[ Parent ]
So what do we do? Look at the huge disparity in labour costs and do what?

Actually, I don't think there's anything quaint about the "running argument". It still seems to matter a lot to the US/UK side who keep their think-tanks, pundits, and media at work on it...

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Aug 30th, 2006 at 01:09:35 PM EST
[ Parent ]
I think that the reason the various spinmeiters like to focus on it is because they have no idea what to do about the real imbalances that are developing and those imbalances for the most part are serving the interest of the multi-nats who fund think tanks. Turning the whole thing into a sports contest is very useful for diverting the attention of the masses from the state of the emperor's nakedness.

It seems to me that facing reality is always a good place to begin.

by Richard Lyon (rllyon@gmail.com) on Wed Aug 30th, 2006 at 01:17:33 PM EST
[ Parent ]
I'll be content, at least for this diary, with facing one aspect of reality...

I don't quite see how your point holds: if the think tanks are funded by corporate interests that make hay out of the world labour glut, (and I agree they are), then I don't think they focus on the "Anglo-Saxon v Eurozone" issue out of sheer bewilderment, as in "they have no idea what to do". Either they are simply using the "Anglo-Saxon model" issue as a smoke screen (that would be your second interpretation), or the issue has substance. This particular drum has been banged for so long and with such insistence that I have difficulty with either the bewilderment or the smoke screen view.

Unless you're separating "spinmeisters" from "think tanks"?

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Aug 30th, 2006 at 02:51:57 PM EST
[ Parent ]
The economics establishment which is the think tanks and much of academia are like generals always planning to win the last war. All of their "free trade" orthodoxy is focused on what they THINK would have mitigated the impact of the great depression. Anybody who suggest that the realities in today's world might be fundamentally different is a heretic. That's probably equal parts of delusion and spin.

I think that it is inevitable that the economic power balance of the world has to be rearranged by the abilities and energy of a couple of billion people in Asia. They simply will not be shut out from a world economy that has been run almost entirely by Americans and Europeans. I think it might be possible to manage the transition in a way that reduces the inevitable disruption to the lives of ordinary people. By not discussing the reality we are missing any possible oportunities to do this. Instead we are rehashing the arguments that might have had some relevance 50 years ago.

by Richard Lyon (rllyon@gmail.com) on Wed Aug 30th, 2006 at 03:23:50 PM EST
[ Parent ]
I don't dispute the main point about Asian economies (though my impression is that it's the Western corporate world that is calling them in rather than "They simply will not be shut out"). But saying this doesn't mean there are no other issues of substance elsewhere.

And, you know, your dismissal of a very considerable propaganda machine as the work of a bunch of defeated generals re-fighting the war before last, and of arguments concerning American (would-be) hegemony and the EU as 50-year-gone maybe relevant, seem to me to take airy wing above reality.

But, as you see no interest in the topic presented above, we'd better just agree to differ.

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Aug 30th, 2006 at 04:39:53 PM EST
[ Parent ]

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