Interview with BNN: You Kiddin’ Me?

After I wrote the last note about China’s creative calculation of its GDP, a friend wrote: “So what?  Who cares what is going on in China?”  If the Chinese economy was the size of the Vietnamese economy, and it was not responsible for more than 2/3 of our trade deficit and didn’t hold $2.2 trillion in foreign reserves (about half of which is in US dollars), I’d be spending a lot less time thinking and writing about it.  However, what happens in China in the near future will have a significant impact on the world, and more importantly our own economy: it will impact interest rates, the dollar, commodities, and demand for industrial goods; and there will be geopolitical consequences.  China matters a lot!  

Another friend said: “You pick on the wrong governments.  First Russia, now China.  They’ll have you killed.”  Though it makes a cute joke, there is some sense of truth in her comment.  Anyway, call it bravery, call it stupidity, here is my [fixed link] latest article in Sunday’s New York Post (also included below), explaining why the Chinese economy should not make us feel inadequate and explaining the consequences of what is taking place in China on the US stocks.  Here is my interview with BNN TV (the Canadian version of CNBC) on the same topic (my wife thinks my hands need to be tied to a chair when I talk on TV, and though she has a valid point, I cannot talk without my hands).   

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