US, China must act to avoid monetary breakdown, OMFIF On Demand
Commentary: US, China must act to avoid monetary breakdown
By Willem Middelkoop and David Marsh
With the rise of quantitative easing after the 2008 financial crisis, intensified by the Covid-19 pandemic, central banks are exerting ever-greater control over financial markets. This is part of an era of debt-fuelled state capitalism that is looking increasingly vulnerable. The system needs a reset. One thing is clear. Anything Biden undertakes in this field will fail unless the US involves China in a meaningful and constructive way.
Read the full commentary on the website.
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