> In 2003, these companies imported $530-billion (U.S.) worth of goods and > services from their own operations in foreign countries. In the same year, > they exported $314-billion worth of goods and services to their operations > abroad. The net result was an "intrafirm" trade deficit of $216-billion -- > or 45 per cent of the entire U.S. trade deficit ($480-billion).
What's the big difference, anyway? In the subsidiary operations, mostly non-U$ workers create the values, with mostly non-U$ raw materials, so the label on the factory is pretty irrelevant -- it could be a different company too. What matters is that it's all paid with fiat money... Chris _______________________________________________ Futurework mailing list [email protected] http://fes.uwaterloo.ca/mailman/listinfo/futurework
