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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
12/15
The third possibility, and the best by far, is that it shifts resources to boost consumer spending. This is what most analysts cited in this article have proposed.
But of course more consumption has also been the best "choice" for the past 10-15 years, and hasn't happened.
2025-08-23T06:28:30.845Z