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Murtaza Hussain
@mazmhussain
This was a lethal quote from Chinese Vice Premier Wang Qishan to Hank Paulson following the 2008 financial crisis. From the book “The Avoidable War”. Read to the end:
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Maretus
@maretus
Man I really hate how it seems like the majority of the modern world is moving towards more and more authoritarianism. On both sides of the aisle you have people who believe that democracy isn’t suitable for the modern world. I hate it. They’re wrong and they use the worst arguments to justify their position.
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Ed O'Shaughnessy
@eddieosh
I think this ep supports that conclusion. Having spent a couple of weeks in China in May it certainly feels like they no longer hold the US in much regard. https://stevehsu.substack.com/p/china-today-myths-and-realities-manifold
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Commstark 🎩🫂
@commstark
but I think China did continue to learn from the US both in terms of using finance to control their internal economy and in using finance to build political alliances globally what I actually take away from it is the feeling of a very close relationship China and the US has (had?) even back then I didn’t get the feeling that sentiments were that friendly
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Thomas
@aviationdoctor.eth
By the same token, the post-GFC recovery was remarkably swift, which shows that the US’ ability to recover from even the deepest crises is second to none. Japan and some European countries have experienced decades-long economic quagmires following a crisis
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Mike | Abundance 🌟
@abundance
When the financial crisis was just underway I was in college studying economics. We had a professor of finance that was introduced to us as "previously taught at Harvard, Princeton and Wharton." When we asked him if he could explain what was happening he said "no one has any idea. Nothing like this ever happened before." That was part of my economic awakening..
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