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The economic effects are now spiraling out of control both within China and beyond. The disruptions working through the value chains of corporations and in certain sectors turnd out to be more systemic and substantial than was originally thought. The long-term effect may be to shorten or diversify the supply chains while moving towards less labour intensive forms of production (with enormous implications for employment) and greater reliance on artificial intelligent production systems. The disruption of production chains entails laying off or furloughing workers, which diminishes final demand, while the demand for raw materials diminishes productive consumption. These impacts on the demand side would in their own right have produced at least a mild recession. ~ David Harvey https://www.democracyatwork.info/anti_capitalist_politics_in_the_time_of_covid_19_essay_by_dh _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
