China was never playing for soft power anyway?
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They’re going to lose hard power from this
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How does this compare to Chernobyl with respect to reputation damage?
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Million times worse... Chernobyl was local, and the US had 3-mile island so hardly in a position to criticize strongly
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China is the first country to have more than 1 billion digitally-connected consumers that share a common culture, regulatory environment, and lots of supporting infrastructure. More unicorns than the United States. 50% of all global luxury spending. They are THE superpower.
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Meh, still more paper dragon than real
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Perhaps a major failure in being the origin of the outbreak, but a major success in containment and control of it. If anything, they’re going to return to productivity months before the western world and have more of a chance to surpass other countries as a superpower of the 20s
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They’re going to get heavily blamed for that too. They took care of their own needs but delayed containing international spread and alerting the world.
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Though China holds trillions USD offbook, their ability to finance escape paths AND hold influence is tightening. NPLs are the instrument to watch. Especially if the FED backs a firm doing so.
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