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NOTHING IS PERMANENT EXCEPT CHANGE

https://www.foreignaffairs.com/articles/china/2019-10-01/chinas-neo-maoist-moment

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Dân số Việt Nam đông hơn Israel gần 11 lần, diện tích lớn hơn 15 lần, nhưng GDP đầu người lại chưa bằng 1/16 của họ. http://isponre.gov.vn/home/tin-tuc/375-moi-nam-dan-so-viet-nam-tang-them-gan-1-trieu-nguoi-

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What is different in this slowdown is China’s floating currency. In prior periods, China’s strategy was demand stimulation. Now, quite a bit of the work can be done through depreciation of the renminbi. Exports have increased. Compare a strategy of insulating China through currency depreciation as opposed to demand stimulation: The former is somewhat destructive […]

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