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the demise of the carry trade would then remove an important channel of cheap funding for the Chinese economy.

Too bad they cannot sell that empty city or the empty shopping malls. Mal-investment is painful. Actually, they probably could get some value unlocked from that mal-investment, but it would involve harm to powerful people, just as in the USA.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jun 20th, 2013 at 01:32:52 PM EST
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