Conversation #8: How do you say 'liquidity' in Chinese?
It is critical to understand what is happening in China first of all. They are suffering from a confluence of longer-term structural imbalances butting up against near-term strategies ostensibly aimed at minimizing the fallout. The risks are complex though in broad terms pretty easy to sketch out. They include potential impacts on global liquidity, one of the most misunderstood topics in finance.
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