China's GDP grew by 8.1 percent in 2021. Yet some media and experts say this is a "worrying sign" for the Chinese economy. Some "China bashers" have predicte...
In 2006, Austrian-school economists were convinced that China’s economy would come crashing down before the 2008 Olympics. That the 2008 Olympics would be a total shambles as a result.
I’ve learned not to listen to the prognostications of economists since then. Economists are the single least-capable professionals on the planet, edging out weather forecasters for the crown. They’re the ones who’ll tell you tomorrow why yesterday’s predictions failed today.
In 2006, Austrian-school economists were convinced that China’s economy would come crashing down before the 2008 Olympics. That the 2008 Olympics would be a total shambles as a result.
I’ve learned not to listen to the prognostications of economists since then. Economists are the single least-capable professionals on the planet, edging out weather forecasters for the crown. They’re the ones who’ll tell you tomorrow why yesterday’s predictions failed today.