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Michael Pettis @michaelpettis.bsky.social

2/2 The NBS credited the improvement to "a government-led campaign to curb excess competition." If they are right, this suggests that involution may be addressed by shifting at least part of the losses from the manufacturing sector to mining and utilities.

aug 27, 2025, 7:00 am • 4 0

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Euan Taylor @euantaylor.bsky.social

Sounds like a game of musical chairs!

aug 27, 2025, 7:09 am • 0 0 • view