Matteo Maggiori on the Global Capital Allocation Project, Exorbitant Privilege, and Dollar Runs
Macro Musings with David Beckworth
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Investing in Emerging Markets
The idea that counties like the us have alloted their equity and bonds investments abroad in tax heavens. The camon island is about 14 % of all forin a portfolio ases of the us. Every chinese company that is listed abroad, like balo tens and ali baba, is actually resident in the camon island. And so the us. Investment in those companies get counted as us. Investing in these companies gets counted as us - not china. A di i knew the data pretty well and that i could mis something that day going on cam wasa surprise. That is fastinati. S t's a huge, gigantic difference.
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