Global Wealth and Global Debt - Interview with Jason Furman (Harvard University)
Economics Explained
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The Failure of China's Belt and Road Initiative
China has made headlines for aggressive foreign lending through their Belt and Road Initiative. Do you think that was something that could ever have worked out or do you think it was just a fundamentally flawed idea to begin with? Look, there's a lot of demand for capital around the developing world. China didn't tell countries you have to borrow or else. These countries were desperate to borrow. They weren't making a mistake in thinking they needed money. And now we are where we are.
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