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The prolonged global Bubble period literally inflated China to superpower status, creating rival Bubbles without precedent.
Under the guise of “market reform,” Beijing is in the process of wresting ever-tighter control over the markets, the economy and society at large.
Momentous changes are afoot in China, which are difficult not to regard as alarming developments. Yet apparently all that matters is that Beijing will maintain loose fiscal and monetary policies.
We’ll see how long the Easy Money Anesthesia continues to work its magic.