@Dalzell60@nytimes Chinese economy is experiencing short term difficulties from the bursting of housing bubble. And as with all bubbles, they burst and the economy goes into a recession. Typical business cycle problems. Nothing unsolvable.
@kyleichan Kyle, I need to read the article in its entirety. But I am on a flight right now. One question: the ones that VW fears are not VW’s JV partners, but a band of formerly ragtag newbies, who got little direct help from VW or any other foreign automakers.
@EvanFeigenbaum China’s own development experience has a lot of bitter lessons of “short-term pains for long-term benefits.” And the gains and pains have never been perfectly evenly distributed among the population.
@EvanFeigenbaum In academic research we care about average effects of a policy or practice. Even the best medicine will likely have side effects for a tiny minority of patients, some of which may be intolerable. But that does not mean the drug should not be prescribed.
@EvanFeigenbaum It was presumed that China would behave in similar ways as the Western powers before her. This presumption is propagated by the lazy journalists who looked at extreme events (what prudent academic researchers would mark as outliers) and drew general conclusions.
@EvanFeigenbaum It was presumed that China would behave in similar ways as the Western powers before her. This presumption is propagated by the lazy journalists who looked at extreme events (what prudent academic researchers would mark as outliers) and drew general conclusions.
@RyanFedasiuk Don’t go to China. You would be able to square your priors with your obs. It would be a mental torture. Stay in your comfort zone and distrust anyone who spent years in China. You will stay happy and stay employed in DC.