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Are we on the eve of a turn in the Great Game? | 79 comments (79 topical, editorial, 0 hidden)
Re: Are we on the eve of a turn in the Great Game? (4.00 / 3)
You are missing two points:

First, the US has the privilege of being able to run nearly unlimited foreign deficits, because the US is the man with the gun.

Second, currency reserve operations can drive FDI and current account, not just the other way around. If the Chinese central bankers think they have a dragon's hoard of US bonds, then they are delusional. What they have is the accounting shadow of thirty years of tribute paid to the Americans.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Apr 28th, 2014 at 03:07:56 PM EST
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Are we on the eve of a turn in the Great Game? | 79 comments (79 topical, 0 editorial, 0 hidden)
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