Posts by John Ross

​Unfortunately some discussion in the media of how China can become a ‘high income’ economy fails to follow the fundamental Chinese saying ‘seek truth from facts.’ Instead it follows a method of ‘ignore the facts, focus on inaccurate dogma.’In particular, as usual, neo-liberals avoid dealing with the facts. They suggest that to avoid the ‘middle…

​During 2017 China has been tightening its capital controls to prevent any export of capital from the country not required for legitimate business expansion – that is China has been strongly acting against ‘capital flight’. This policy has been successful, with China’s foreign exchange reserves, already the world’s largest, rising for six months in a row – see…

This article was written in April 1992 and originally published in Russian in September 1992 in Voprosy Economiki (Questions of Economics) in September 1992. The introduction to the article was written for a blog December 2008 and subtitles have been added to make the article more suitable for a website – otherwise it is unchanged. *   …

IntroductionThe following article, published in September 1996, that is prior to the creation of the Euro, accurately predicted in advance from fundamental economic theory the basic contradictions in the way the Euro was created and the crisis it would lead to in Europe. It predicted: ‘The proposal to create a single European currency, through the methods…

Introduction ​The international importance of China’s economy is twofold. The first is practical – the scale of China’s economic growth, its global impact, and the consequences for the improvement of the social conditions of China and the world’s population. The second is theoretical, including the potential international applicability of conclusions drawn from China’s economic policies.…