MacroVoices #366 Louis-Vincent Gave: Staying Humble in Troubling Times
Macro Voices
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Clash of Empires - The Real De-Globalization
The real de-globalization is occurring in terms of financial flows. US pension funds are now being told by the US government, really guys, you shouldn't invest in China. You also have Chinese institutions that now feel maybe US treasuries are not as safe as I thought they were. And again, the big difference is the US runs twin deficits of 10% of GDP and China doesn't.
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