Is the Consensus Right or Wrong About China?


Was it Churchill who originated the phrase, ‘Never let a good crisis go to waste’? Citing the exceptional circumstances of Brexit, today we had the Italians asking the EU to allow them to bail out their own banks to avoid the now familiar bail in process of hitting shareholders and depositors first. «Nein» was the response from Germany who reminded the Italians it is shareholders and depositors who must take the first hit.

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