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Andrew Batson x.com
Li Daokui's comments are important because there are so few domestic voices in China stating what (I think) is the obvious truth about the economy: the main problem is that aggregate demand is weak, growth is running below potential and macro policies are inappropriate. This is not a novel, original or unusual insight: it's what lots of people (myself and others) have been saying for years, and is also in the most recent of the much-maligned IMF reports on China. But it runs directly contrary to the official government diagnosis which is that aggregate demand is fine and the economy mainly su…
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korrents.com
People tend to overestimate their own talent and underestimate the structural advantages that amplify their success.Their words
we are systematically likely to overestimate our own individual awesomeness, and to underestimate the external power asymmetries that magnify our voices.
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