So now that China has had a truly major failure attached to its reputation, how does that affect the future of its superpower aspirations? (I think it’s still well short of the USSR at its peak, so it’s like a superpower-lite aspirant right now)
-
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.
When I was a kid, there was a rich kid who owned all the cricket equipment so we were all his friends. He’d get pissed when we started a different game and ignored him. China reminds me of that kid.
