globalization & Pynchon?

[KXX4493553 at aol.com]

In einer eMail vom 26.04.01 17:15:36 (MEZ) - Mitteleurop. Sommerzeit schreibt 
calbert at tiac.net:

> 
>  The principal reason for this concentration is that these are the 
>  exchanges with the most transparent regulations. People in 2nd 
>  world countries seek safe havens for their capital - such is not 
>  usually found in the local bourses which tend to suffer from high 
>  levels of regulation, political and currency risk, as well as restricted 
>  liquidity.......
THEY cried for "transparent regulations" AFTER the Asian crisis of 97/98 - 
before that they lived with intransparent non-regulations very well...
You are speaking about consequences not about the reason why. 
You can only develop  a country with long-term investments, but not with 
short-term ones. The reason why the not-so-red-any-longer-China was not so 
much concerned with Asian crisis as Malaysia or Indonesia was that it had and 
still has capital flow controls...
The difference between fordism and post-fordism is not only the role of the 
state but also the difference between long- and short-term investments. 
Post-fordism/neoliberalism has only an interest in short-term ones. 

By the way, concerning debts: the German way is: give credits to let's say 
Russia. The German state guarantees for it (Hermes-Bürgschaften). The German 
export industry sells goods to Russia. Russia pays with German credits. One 
day there's no money available any longer Germany gives a new credit for the 
old credits. And the German state guarantees (Hermes Bürgschaften). And so on 
and so on...

About the role of metropolis, semi-periphery and periphery, read Immanuel 
Wallerstein. It depends on the level of productivity, and what kind of goods 
you are selling.Remember: "terms of trade" - was there anything like this I 
heard of several years ago...????? 


Kurt-Werner Pörtner