Posts by John Ross
The US trade deficit is ‘Made in the USA’ not ‘Made in China’
China’s tactical response to the US administration’s arbitrary proposed tariffs against China, as well as unjustified US official and unofficial sanctions against Chinese companies such as ZTE and Huawei, must take many factors into account. Some of these can be known only to those directly involved in negotiations. Therefore, the following analysis is not…
Read MoreAn important paper on China’s economic reform
Elias Jabbour and Alexis Dantas, two economists in Brazil, have published an important study of China’s economic reform ‘The political economy of reforms and the present Chinese transition’. In general this refutes many myths on China’s economic reform in analysing the relation of the state and the market in China’s ‘socialist market economy’. It is…
Read MoreNew turbulence on US financial markets shows the limits on US growth under Trump
On Friday 2 February sharp turmoil, which had been building for some time, shook US financial markets. The driving force was the continuing sharp rise in US Treasury Bond yields, that it the interest rate on US Treasuries, which has risen from 1.86% when Trump was elected to 2.84%. US Treasury rates set the floor…
Read MoreTrump’s tax cut – short term gain, long term pain for the US economy
To assess the impact of the Trump tax cut on the US economy it is necessary to analyse the interrelation of two processes: The determinants of US economic growth in the medium/long term, The short-term position of the US economy in the current business cycle Analysing these factors, the impact of the Trump tax…
Read MoreThe West’s ‘new mediocre’ and the rise of China’s economics
In a recent article ’The Arrival of the Century of Chinese Economics’ Justin Yifu Lin argued that the centre of world theoretical economics would pass to China: ‘I also made a prediction… in the 21st century it is quite possible that many master economists will emerge through the study of China’s economy…. ‘The importance of…
Read MoreThe most important book on economic growth to have appeared for many years
Vu Minh Khuong’s The Dynamics of Economic Growth is the most important book on world economic growth to have appeared for many years. It is for that reason (full disclosure) that I did a small amount of work assisting on editing it. The crucial importance of the book is rightly summed up by Professor Dale Jorgenson, of Harvard University,…
Read MoreChina is most promising hope for Third World: Fidel
By far the two largest groups of socialists in the world are in China, in the tradition created by Mao Zedong, and in Latin America – the followers of Fidel Castro. Dialogue between these two currents is therefore of critical importance for the future of socialism in the world. The following article by Ajit Singh outlines the analysis…
Read MoreChinese and Latin American socialists meet and honour the achievements of Fidel Castro.
On 27 November socialists from China and Latin America met in China at the fifth Forum on the Left and Socialism in Latin America and the Caribbean and honoured the achievements of Fidel Castro who died one year ago. The article below from Prensa Latina reports the meeting. The great respect of China for Fidel…
Read MoreChina’s increasing impact in Central and Eastern Europe
The Financial Times carried on 27 November a long article on China’s increasing impact in Central and Eastern Europe under the self-explanatory title ‘Eastern Europe’s China pivot’. Unfortunately for copyright reasons it is not possible to republish the article and a subscription to the FT is necessary to read it. However the general analysis…
Read MoreChina announces 2nd World Congress on Marxism in Beijing
A key feature of the recent 19th Congress of the Communist Party of China (CPC), and the events leading to it, was the strong emphasis placed on Marxism in China. This was underlined in Xi Jinping’s report to the Congress. It was stated explicitly in official reports Chinese reports of the Congress in the mainstream…
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