Overwhelming focus on opening things up, when the summer lull in cases was broadly similar to peak levels seen in Asian success stories. Obsession with keeping travel going, no central quarantine, failure to learn much from places with successful tracing systems.
Europe is massively disadvantaged in the same way that the U.S. is, by a lot of physical economic networks crossing varied public health jurisdictions, but yeah they messed it up good and proper on top of that too.
This is Korea and France at an almost identical number of cases nationally.
I feel like this is the sort of thing a child could understand better than a lot of policy-focused adults. They started encouraging people to do things where you might catch a virus while a whole bunch of people still had a virus.
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Does anyone swear by a particular variety of garlic crusher? I feel the canonical design leaves a huge amount to be desired when it comes to the amount of scraping required to reclaim valuable fragments, and refuse to believe human progress hasn't solved this yet.
I currently just use a knife but anyone who tells me to just use a knife will be blocked. Thanks
We had the good times (corporate governance reform, economic stimulus, the CPTPP) and the bad times (the sales tax increases. Why did you do it, buddy?) but this is really the end of an era.
A story I've been looking out for: real estate developer Tahoe Group's default left thousands who bought homes in pre-sale offerings adrift. They paid their deposit, and owe mortgage repayments, but their homes may never arrive (By @xieyuxy and myself!)
Pre-sales have ballooned in recent years as other sources of financing have tightened - they have "ponzi-like features" because developers use pre-sales today to fund developments which were promised years ago - so today's buyers have nobody to fund theirs when the music stops
The vast majority of Chinese wealth, especially household wealth, is concentrated in the housing market. Leverage among both buyers and developers has ramped up. And for some unlucky families, the stalled development you see here is the result of a lifetime of saving:
I thnk this piece by @S_Rabinovitch on Xi's economic program is an excellent piece of analysis/commentary and will try to explain why without reading too much into his intention in writing it - just what I took from it. economist.com/briefing/2020/…
Often when writing a column I'll look at a firm/industry/economy and think "oh this seems to be going well/badly" and think how to write about that. Sometimes there is broad agreement among other columnists/analysts on the general direction of travel for whatever the subject is.
Nobody should be writing the opposite of that for the sake of it. That way lies the territory of cranks and water-carriers.
Brent Scowcroft's piece in the WSJ in August '02 laying out the case against invading Iraq is worth a read. wsj.com/articles/SB102…
"There is a virtual consensus in the world against an attack on Iraq at this time. So long as that sentiment persists, it would require the U.S. to pursue a virtual go-it-alone strategy against Iraq, making any military operations correspondingly more difficult and expensive."
"Ignoring that clear sentiment would result in a serious degradation in international cooperation with us against terrorism. And make no mistake, we simply cannot win that war without enthusiastic international cooperation, especially on intelligence."