China's fast-growing M2/GDP ratio has puzzled policy-makers and investors for years. I recently read a book by former Chinese central bankers who explain it from a credit creation perspective. Here are a snapshot of their analysis and some data verification.
_Chuan Xi Lu_ is a classical Chinese work that records dialogues and letters of the Neo-Confucian thinker Wang Yangming. In this dialogue, Wang illustrated two of the fundamental equalities shared by human-the access to innate moral sense and the ability to achieve whatever you can.
_Chuan Xi Lu_ is a classical Chinese work that records dialogues and letters of the Neo-Confucian thinker Wang Yangming. I translate selective chapters from it that I find to be enlightening and worth sharing and hope more readers can appreciate Wang Yangming’s wisdom.
There is no doubt that anthropogenic carbon emission is an important driver of the diminishing Arctic sea ice extent. Moreover, a rather consensual view suggests that the very nature of the Arctic system (i.e. channels for various feedback loops) leads to the amplification of such external shocks, making the Arctic warm faster than anywhere else on Earth.