Commentary Some have marveled in the recent past at the often mindless, herd mentality of people I will here only loosely describe as “investors.” People with seemingly more money than common sense have chased everything from fundamentally bankrupt meme stocks to every new cryptocurrency offering, typically based on no more than not wanting to be left out of the latest “hot story,” no matter how little is really behind it. But long before all this, we had a lot of years—especially back in the “aughts,” but even since—when the story that professional investors, policymakers, and others were chasing was CHINA. After President Richard Nixon opened China to the world—and specifically to U.S. capital, financial, and corporate interests—it was “game on” for almost everyone who wanted to get in on the planet’s new growth story and gravy train. All manner of big corporations set up their colonial-like presences as I referred …
Could China Go the Way of 1980s Japan?—Part 3
February 11, 2022
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