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Wednesday, November 13, 2013

Can China learn from Britain? Probably not. They are looking forward to a de-Americanized world.

It seems to me as I think of it briefly that China is in the middle of the classic Austrian over-investment cycle with all the nastiness still to come that Hayek and Ludwig von
Mises talked about. I have under-appreciated this school of thought in my career and it seems to me China is teeing it up.

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