Matthew C. Klein
@M_C_Klein
Founder of THE OVERSHOOT and UN/BALANCED | co-author of TRADE WARS ARE CLASS WARS | For speaking:
가입 November 2012
712 팔로잉 중 61.9K 팬
Fascinating new paper tracks how monetary stimulus in China actually flows through to the real economy:
As @michaelxpettis has long argued, credit expansion tends to boost excess capacity and worsen profitability without improving nominal incomes/demand
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