Nipa Piboontanasawat Archive

China’s domestic demand firming?

[Skip to the end] As I’ve said for a very long time, the last thing we need is a billion new consumers in the world competing for resources. But by failing to unilaterally sustain domestic demand at a time when the rest of the world wants to export to us, we are ...Read More

Hong Kong and deflation

[Skip to the end] The Hong Kong currency board arrangement means net Hong Kong financial assets (AKA money supply) can grow only via net exports (and/or external debt). This means market forces work to sustain net exports ‘at any cost’. The usual result is a deflationary mess, until ‘competitiveness’ is achieved to ...Read More