It’s amazing to me that all the economics gurus seem to miss the point that Japan, China, Germany, Korea, Taiwan, and now Mexico have all built and continue to build enormous excess capacity. It’s not that there is a lack of demand. It’s that export led growth strategies have resulted in crushing global over-capacity. Add to it the lack of infrastructure and R&D and education investments in EU and USA. In summary, we have too much of what we don’t need and too little of what we really need to grow productively and socially balanced.
http://p.nytimes.com/email/re?location=InCMR7g4BCJTYuyKqXu41nLx0AMIWk+F&user_id=12c5bc73d87a73aeef73d513d692c5c7&email_type=eta&task_id=1470496187757416®i_id=0
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