While the US and Europe have chosen the path of unprecedented fiscal spending and monetary easing, China is doing the accept opposite. On the long term, this will lead to an appreciation of the renminbi and a depreciating dollar which will push inflation higher in the West, argues GaveKal founder Charles Gave in his latest monthly contribution to Investment Officer.
Gavekal
GaveKal: China's radically different answer to US fiscal spending
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GaveKal: not Covid but the renminbi is the event of 2020
What was the most important event to precede the 2008 financial crisis? Was it BNP closing its money market funds or the oil price exceeding
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