July 19, 2021
IT'S A UNIPOLAR WORLD:
The crackdown on Didi and companies like it could cost China as much as $45 trillion in new capital flows by 2030 (Frederick Kempe, 7/10/21, CNBC)
This was a clarifying week for global investors -- or for anyone concerned about authoritarian capitalism -- of just how much the Chinese Communist Party (CCP) would be willing to pay to ensure its dominance.The answer, according to a rough calculation from a new partnership formed by the Rhodium Group and the Atlantic Council, is as much as $45 trillion in new capital flows into and out of China by 2030, if the party were willing to pursue serious reform. It's an immeasurable loss of economic dynamism.
You can't have a Clash of Civilizations when there is only one.
Posted by Orrin Judd at July 19, 2021 12:00 AM