'China is not stealing jobs from anyone. The globalisation process is erasing jobs everywhere, including in China'
By Martin Hart-Landsberg
June 6, 2011 -- Reports from the Economic Front, posted at Links International Journal of Socialist Renewal with the author's permission -- Although capitalism has always been a global system, the international integration of production and finance and our dependence on cross-border activities seems greater than ever before. At the risk of oversimplifying, we now have a world system within which Latin America, Africa and the Middle East specialise in the production and export of primary commodities, increasingly to East Asia.
East Asia operates as the world’s manufacturing hub, exporting final products to the developed capitalist world, especially the United States.And the United States specialises in providing the finance that underpins the international production system and developed capitalist country consumption.