the next thousand years
courtesy of zero hedge
The thesis is that Nixon and Kissinger bet that introducing the largesse of capitalism to China in 1974 during the cold war would be an ineluctable and irresistible path to western, liberal democracy. And they were wrong. China swapped out cheap trinkets for theft of intellectual and other property not nailed down amassing $1 trillion of treasury bills plus a fair amount of high end real estate in 46 years while closing the barn door behind supply chains and foreign investment. Trapped. Mr Bass suggests that the supply chains should return, judicial redress should be taken against the Chinese, and that treasury bills, property, and other assets be held to ransom. Meanwhile back at the ranch Chinese companies listed in the US do not have to comply with US accounting standards and index funds, MSCI Asia, have a 48% weight in Chinese equities which are 15% of global GDP and are pumped and dumped with impunity. Another way would be to encourage the Chinese to open the capital account and watch its GDP and money flood into Des Moines.
Please watch the interview. Worth the hour
courtesy of zero hedge
The thesis is that Nixon and Kissinger bet that introducing the largesse of capitalism to China in 1974 during the cold war would be an ineluctable and irresistible path to western, liberal democracy. And they were wrong. China swapped out cheap trinkets for theft of intellectual and other property not nailed down amassing $1 trillion of treasury bills plus a fair amount of high end real estate in 46 years while closing the barn door behind supply chains and foreign investment. Trapped. Mr Bass suggests that the supply chains should return, judicial redress should be taken against the Chinese, and that treasury bills, property, and other assets be held to ransom. Meanwhile back at the ranch Chinese companies listed in the US do not have to comply with US accounting standards and index funds, MSCI Asia, have a 48% weight in Chinese equities which are 15% of global GDP and are pumped and dumped with impunity. Another way would be to encourage the Chinese to open the capital account and watch its GDP and money flood into Des Moines.
Please watch the interview. Worth the hour
Comments