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The Paradox of Macroprudence in the Economy
The paradox is you know you're going to get a crisis at some point in the future. You don't know where it's going to come from. The new set of tools will lean against the bubble and keep a close eye on labor ratios and the amount of debt. Why is it that the bank has always seemed to make out, you know, we socialize the losses and the gains get taken by someone else privately? But the question I think you end on really pregnant and interesting is China. Can you just give us a little bit of your analysis of China, how resilient it will be and the world economy will be in dealing with it?