The Crisis Bubble

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For obvious reasons, this lede from Keith Bradsher’s IHT piece describing how the Chinese are cooling to U.S. government debt got me clicking through to the Merriam-Webster definition of the word, “crisis”: China has bought more than $1 trillion in American debt, but as theglobal downturn has intensified, Beijing is starting to keep more ofits money at home — a shift that could pose some challenges to the U.S.government in the near future but eventually may even produce salutaryeffects on the worldeconomy. Theword has its roots in medical usage, and me being the optimist that Iam, I’d identified it with […]

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