Earlier this year china agreed to buy 20 billion in

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Human Resource Management
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Chapter 6 / Exercise 2
Human Resource Management
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oil field, near the Iraqi border. Earlier this year, China agreed to buy $20 billion in liquified natural gas from Iran over a quarter century... in turn China has become a major exporter of manufactured goods to Iran, including computer systems, household appliances and cars. 986 China is the world's fastest growing economy and is buying raw materials, such as oil, natural gas and other materials at a phenomenal rate. For instance, China as of October 983 Allison Grant, “NE Ohio jobless numbers continue to rise,” Greater Cleveland Community News, Volume 18, Issue 4, April 2005 , p. 3 984 “Public begins to hear implications of oil production peaking”, The Plain Dealer, Sunday January 16, 2005 , p. G-4 985 Gerald Horne, “Imperial Intrigues,” Political Affairs, Volume 84, No. 4 , p. 43 986 Ibid. (Horne), p. 44 549
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Human Resource Management
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Chapter 6 / Exercise 2
Human Resource Management
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10, 2004 was consuming 40% of the world's cement supply. 987 There are approximately 200 million cars in America. 1 2 million cars are sold in the United States every month. 988 High gas (oil) prices hit the U.S. consumption rate, which is 2/3's of the perpetual accumulation of capital globally because people living in the suburbs have long ways to travel going back and forth to work and to malls and their homes. What produces the world glut? Cybernation (a complete automated production process) and automation in the workplace worldwide (through new technology) takes fewer workers to produce more commodities (increased productivity). In the drive to increase profits, the capitalists establish plants and invest wherever there is the cheapest labor (low wages-third world, particularly China) and reduce wages in post-industrial western countries subjecting them to become high-tech service workers of a global world economy thus rendering those societies into non-productive labor economies. Unions are smashed and benefits are lost for many workers in the U.S. who now work two or more non-unionized part-time jobs with no benefits or job securities. As a result, those part- time workers go further into debt and cannot consume at the rate they did before. Americans are $663 billion in consumer debt. Because U.S. consumers make up two- thirds of the profit of the world economy when they can no longer consume at the rate they did before, the global capitalist system enters into a major structural crisis as it now is teetering on a worldwide (concentrated in the U.S.) depression. 2006 The Jena 6 In late August 2006, in the small Louisiana town of Jena, which is 85% white; the beginning of a major case of racial injustice developed. African American student, Kenneth Purvis asked the principal of Jena High School, which is 15% African American, if he could sit under a tree in the school’s courtyard; a tree where white students traditionally congregated. He was told by the principal that, “he could sit wherever he liked because it’s a free country.” After the African American students sat under the tree (now cut down), white students hung three nooses from the tree.

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