Tensions increase as market liberals battle mercantilists

Robert Gibbins of macro shop Autonomy Capital on Asian mercantilism and the great misallocation of capital.

By Robert Gibbins

Imagine two teams playing on your favorite field, pitch or court. Both teams use the same basic equipment. Both teams are talent rich and equally committed to winning. But, each team plays by rules they choose. Instead of a fair and orderly contest, you’ll think you paid good money to witness chaos.

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