The Decoupling of China and the Global Growth of the Last 20 Years

There is still a sense in which if something goes very wrong in china, it will have global consequences. And second, i don't think we have fully come to terms with the degree to which the global growth of the last 20 years was levered to china. So decoupling, i think, in the tech way and the supply chain way, is apace. But the shoe that has yet to drop is the systemic risk,. one if something really goes wrong in the credit markets in china - specificall, in the property markets.