August 31, 2023
YOU CAN'T HAVE A cLASH OF cIVILIZATIONS WHEN THERE IS ONLY ONE:
China risks losing the battle of market perceptions (WILLIAM PESEK, AUGUST 31, 2023, Asia Times)
Accurate or not, a narrative is taking hold that China's growth "miracle" is over and that "Japanification" risks abound. It doesn't make it so, but in these social media-driven meme-stock times, in which algorithmic trading trumps gut-feeling responses to global uncertainties, false narratives can take on a life of their own. And damaging ones can metastasize quicker than Xi's inner circle may realize.Along with unfavorable demographics, China confronts slipping exports, growing risks from the decoupling/derisking dynamics of recent years and persistent questions about China's true innovative powers.
Even in these asinine times, there is nothing funnier than the Left/Right ranting about the "failure" of Liberalism.
Posted by Orrin Judd at August 31, 2023 7:41 AM