The Negative Sum Game
Accelerated since 1979 re China.
Before that, we had disastrously boomed Japan, and others, around the Pacific rim, keeping our negative sum game going since late 40s, really.
IMF, WB, BRETTON WOODS, COLD WAR BOOM, ETC.
Economists were always fond of telling politicians it didn't matter whether you made machine tools or Twinkies, the invisible hand would cause things to come back to equilibrium.
Things are coming back to a new sort of equilibrium, soon.
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