4 ms·
If one factor - large reserves - leads to economic problems than this guy is dead on. But it doesn't. Economic success or failure is due to many factors. He
by va_coder 17y ago
If one factor - large reserves - leads to economic problems than this guy is dead on. But it doesn't.
Economic success or failure is due to many factors.
He should have chose to argue with Jim Rogers, who has much more credibility, than Friedman.
- mediaman 17y agoHis argument is that large reserves do not protect from economic problems. This is in response to Friedman's assertion that the Chanos analysis is wrong because despite excess capacity, China can use its currency reserves to stave off recession, which isn't true. In the article he states explicitly that large reserves do not necessarily cause economic problems.
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- deleted 17y ago[deleted]