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It's free trade which was pushed aggressively and enpowering China
by ipaddr 3y ago
It's free trade which was pushed aggressively and enpowering China
- roenxi 3y agoSure, but when a country with "People's Republic" in the name outperforms the US on economic policy after the US had a jaw-dropping lead coming out of WWII? It is worth getting into the weeds of what the US screwed up. The authoritarian streak in financial markets (of which KYC/AML are a major plank) is probably a significant factor. The US banks aren't running rings around the Chinese financiers with all the paperwork they have to do. Although I'll say again that the whole thing is intensely political and I doubt there is any consensus on what just happened in the last 50 years beyond China is building stuff and the US is not.