@EvolLove I agree with this Part 3 much more than Part 1!

The US was hubristic in imagining, long after we were the world’s industrial heartland, it was indispensible, could govern the world via the dollar. China and Russia want to do some things we think quite bad, and even if they are quite bad, we are not their rulers. China is more than capable of anchoring a prosperous community of trading states. Dollar sanctions and export controls can only be bumps in the road. 1/

@EvolLove I don’t think that China is “doping their economy”. Yes, they are using stimulus and papering over bad investments. But bad paper is only paper. Their real economy, their capacity to produce and adapt their production, is now best in the world. All the games they’ve played with subsidy and finance have been more like testosterone than fentanyl, if we want to reach for doping analogies. /fin