Starting now: China's Great Wall of Debt with @DinnyMcMahonhttps://twitter.com/KissingerInst/status/967101622148091906 …
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.@DinnyMcMahon: "Today, about 90% of Australia's own ore exports go to China. But [in the 1990s], Australia was selling more iron ore to Japan than to China. Things only flipped in 2002."
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@DinnyMcMahon : "The thing that keeps Beijing's leaders awake at night is the Middle Income trap...Now incomes in China are reaching this threshold, and Beijing is genuinely worried about not making that transition."Pokaż ten wątek -
: There's a saying I like - "Above is policy, but below we have ways of implementing policy." This makes China work, but it's also the biggest impediment to fixing a broken system.
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"Banks were using trusts to move loans off balance sheets, and removing record from official banking statistics. Banking regulators cracked down eventually, but this behavior set the tone for the rest of the decade"
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@DinnyMcMahon : "I don't know what exactly will happen to the Chinese economy, but what I believe is that the inevitability of China is a long way from a sure thing."Pokaż ten wątek
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