Lack of data, lack of confidence in the data, lack of understanding of the language and of the economic and financial models, lack of objectivity and lucidity on the part of the media…, unlike the United States, Europe (or even India and Africa), China remains a mysterious land. Thus, it is hard to understand the nature of the difficulties into which the post-Covid global crisis and tensions with the West are likely to throw it. Nevertheless, the repercussions of a Chinese crisis are not to be taken lightly given the centrality of China in the global economy.
Some speak of “China’s gilded age” in reference to the American golden age of the second half of the 19th century, but we should not forget the crises brought by this golden age in the United States in 1873, 1893 and to some extent in 1929, too. Not to mention the world wars to which the global disruption brought by the emergence of the US certainly contributed.
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