Banking Crisis — The Great Unwind - LewRockwell
Lew RockwellAPR 2022
Despite glaring evidence, such as this latest report, China continues to ignore the negative impact of its zero-COVID strategy on the global economy. While other countries have been open for a while now, China has allowed its export industry to deteriorate, affecting businesses and economies worldwide.
China's COVID response isn't the culprit behind the current conditions; the US' is: After creating its own inflation disaster through generous stimulus spending during the pandemic, the Fed overcompensated by raising rates exponentially, thereby placing other countries in a foreign exchange rate crisis — a policy it seems to be stubbornly sticking with despite the toll on the global economy, including its allies.