37 and Now...Quick Observations
The mood hit me the other day What has changed from 1937 and now? The year chosen btw is not arbitrary. Could be any year from the 20th Century actually up to 1949. China is rich. Yes wealth is “relative”, but it’s hard to call a country with over a trillion dollars in the bank “poor”. Yes, China has really screwed itself by making a deposit it cannot so easily withdrawal, if ever. I wish China would do a writeup in the People’s Daily explaining such a thing, but it probably lacks the courage to do so. On a sidebar, it probably would’ve been better if China had taken some of this money and created a stronger social welfare system. Problem is, China considers that a “non productive” investment. It’s far more glamorous and globally face giving to just buy treasuries. China is confident. Oh yeah. This is a good thing, right? Do we really want an insecure China threatening ...