[OPE-L:5743] Re: The vortex of the world market

Fred B. Moseley (fmoseley@mtholyoke.edu)
Sat, 22 Nov 1997 18:29:45 -0500 (EST)

[ show plain text ]

Hi Massimo, welcome back.

I think the current flight of capital from Asia has a lot more to do with
the build up of a huge speculative and unsustainable debt burden than it
does with increased strike activity. The deepening crisis will no doubt
severely affect the working class and their response will be crucial in
determining how the crisis is resolved, but their militance is not the
main cause of the crisis.

By the way, the dimensions of the crisis seem to be broadening daily
(now S. Korea and Japan). This is starting to look serious.