China's push for RMB internationalization
Sinica Podcast
00:00
The Problem Is How QE Operates
The western system responded post the global financial crisis by injecting money directly into the economy in order to sustain healthy transactions. But a lot of central bankers didn't really think about this in that way and so you miss out on how monetary economics works for example monetarism. China was big enough to disrupt that and it didn't quickly converge to becoming itself a fully fledged market economy. That distorted the pricing mechanism and how it informs investment decisions across the globe. It led to a lot of excesses and a lot of missile location in China including Wall Street.
Transcript
Play full episode
