{"id":80070,"date":"2021-09-30T19:33:13","date_gmt":"2021-09-30T23:33:13","guid":{"rendered":"https:\/\/schillerinstitute.com\/?p=80070"},"modified":"2021-09-30T19:33:15","modified_gmt":"2021-09-30T23:33:15","slug":"chinas-secret-hamiltonian-system-anyone","status":"publish","type":"post","link":"https:\/\/2.schillermeet.de\/de\/blog\/2021\/09\/30\/chinas-secret-hamiltonian-system-anyone\/","title":{"rendered":"China&#8217;s Secret: Hamiltonian System, Anyone?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\" style=\"font-size:24px\"><strong>China&#8217;s Secret: Hamiltonian System, Anyone?<\/strong> &#8212;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sept. 29 (EIRNS) \u2013 Italian economist and China expert Michele Geraci explained why, in his view, Evergrande won&#8217;t unleash a systemic crisis for China.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;&#8222;China can manage crises because it controls all necessary macro-economic variables, which have been denied to us. &#8230; Here is the list of what they have and what we don&#8217;t:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u00a01. They issue their (own) currency (and we don&#8217;t).<\/li><li>2. They decide at a table the interest rate curve.<\/li><li>3. They have no deficit constraints.<\/li><li>4. They decide currency exchange at a table.<\/li><li>5. They control current accounts through independent trade policies.<\/li><li>6. They control capital in- and outflows.<\/li><li>7. They do not have an international currency, thus they are not captive to Wall Street.<\/li><li>8. Lastly, the key is that they have no big foreign debt.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026 That is why Evergrande won&#8217;t be, in my view, a systemic risk&#8230;&#8220;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The reader knowledgeable in the American System of Political Economy will recognize major features of a Hamiltonian system of credit and trade policies in these Chinese policies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Secret: Hamiltonian System, Anyone? &#8212; Sept. 29 (EIRNS) \u2013 Italian economist and China expert Michele Geraci explained why, in his view, Evergrande won&#8217;t unleash a systemic crisis for China. &nbsp;&#8222;China can manage crises because it controls all necessary macro-economic variables, which have been denied to us. &#8230; Here is the list of what they [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":80071,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[520,642,505],"tags":[842],"class_list":["post-80070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-development","category-finance","category-updates","tag-lang-en"],"_links":{"self":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/80070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/comments?post=80070"}],"version-history":[{"count":2,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/80070\/revisions"}],"predecessor-version":[{"id":80082,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/posts\/80070\/revisions\/80082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/media\/80071"}],"wp:attachment":[{"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/media?parent=80070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/categories?post=80070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2.schillermeet.de\/de\/wp-json\/wp\/v2\/tags?post=80070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}