Asians Shopping Less
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  • Jim.

    As PJ O’Rourke observed, the mighty Soviet Empire with all its nukes and tanks and gulags was brought to its knees because no one wanted to buy Bulgarian shoes.

    If China can’t make goods Chinese consumers actually want to buy, or allow their currency to appreciate to the point that those consumers can buy foreign goods, and instead continue to build immense ghost towns in the name of stimulus (or corruption, often the same thing) then China’s going to find that its economic structures aren’t suited to the context it finds itself in… and that leads to collapse.

  • Jim.

    Less state direction of the economy, more attention to market forces… that should put their economic structures on a more sustainable foundation.

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