The Battle of Red Cliffs (赤壁之戰) at the end of the Han Dynasty, ca. AD 208 "The world under heaven, after a long period of division, tends to unite; after a long period of union, tends to divide. This has been so since antiquity" Ancient Chinese proverb The Chinese believe that the above saying accurately … Continue reading Embracing the opportunities of a multipolar world
While appreciating the tranquility of the forest beside a stream, the wise and veteran samurai tells the young warrior: 'If you sit by the river long enough, the bodies of your enemies will float by' I've long wondered what this quote meant, but I think I've finally figured it out. It is a quote about … Continue reading Thoughts on the market selloff
To understand the game of the financial markets, we need to understand the game masters The game masters are the central banks, as they directly influence the costs of credit in the financial and real economy, influencing the business cycles The ECB will gradually move to wind down its stimulus programme, but has to maintain … Continue reading Playing the ECB’s potential tapering?