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Next to Fall - U.S.?

By Benjamin J. Butler

 

From about 2010 I became more interested in the US and Western capital markets than Asia and China. It was my belief that the China-is-about-to-take-over-the-world paradigm was wrong. The fact that they emerged from the Global Financial Crisis earlier than other countries was as a result of aggressive policy action. But it was clear to me that even if this was going to be an “Asian Century” or a “China Century,” development is never linear and there would be major setbacks. My sense was that innovation was still alive and well in the West, and even if there were problems in the Western economies they could use QE to inflate asset markets quite easily (at least until the next crisis). As an investor into businesses I also faced the challenges of terrible corporate governance in China. So I voted with my feet and - although based in Hong ... Log in or subscribe to continue reading.


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