I kind of disagree with the analysis, largely because there’s now a large block of the world separated from western commerce.
Russia isn’t purchasing goods, yet the west is giving them wealth for oil, natural gas, wheat, etc.
That’s effectively wealth leaving the system and entering there’s.
More over, the west is increasingly looking at China as a threat AND China has locked down a large amount of economic output.
This is just starting imo and it’s not likely to improve for the time being.
In the 70s and 80s the US had a large manufacturing base and purchasers around the globe.
Today the largest exporter is China and most nations have china as their largest import. China is supporting Russia and looks like their looking to leave the western financial system. This is on a downward spiral far different than the 70s and 80s and I don’t see it reversing until the market bottoms out at its new size (much smaller than previously).
Russia isn’t purchasing goods, yet the west is giving them wealth for oil, natural gas, wheat, etc.
That’s effectively wealth leaving the system and entering there’s.
More over, the west is increasingly looking at China as a threat AND China has locked down a large amount of economic output.
This is just starting imo and it’s not likely to improve for the time being.
In the 70s and 80s the US had a large manufacturing base and purchasers around the globe.
Today the largest exporter is China and most nations have china as their largest import. China is supporting Russia and looks like their looking to leave the western financial system. This is on a downward spiral far different than the 70s and 80s and I don’t see it reversing until the market bottoms out at its new size (much smaller than previously).