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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
6/16
The standard explanation for how a country benefits economically from the widespread use of its currency is that net capital inflows automatically reduce domestic interest rates and raise investment. This seems like such a truism that it doesn't need to be discussed.
2025-08-31T12:09:06.323Z