The China example here isn’t terribly complicated, it’s just enormous. The country’s lopsided industrial overcapacity is at a tipping point that its anemic domestic market can’t absorb.
It might be a small world after all... The most glaring feature of the post-World War II order was the free flow of money and capital across the borders of the free world increased both production and consumption to pull more people out of poverty than during human history. When the USSR collapsed, the experiment was scaled to the entire planet. By the turn of the century, communication was so open that I once got an email from London at may desk in Memphis faster than one co
