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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
3/8
In an open economy, the whole point of beggar-thy-neighbor policies is to subsidize production at the expense of consumption and to export to one's trade partners, in the form of a trade surplus, the consequence of the rising domestic gap between supply and demand.
2024-11-23T03:29:56.749Z