Ripple effect is a better term than \u201cLehman Effect,\u201d because, in this way, the fear behind any financial contagion due to the crash of a particular reality is succinctly expressed. In many op-eds, we have described how the current financial system is inextricably interconnected, where property rights are ephemeral, and no one knows who owns what. Evergrande is one of the most obvious symptoms of this system. The numbers are shocking, it is true, but there is something else to say. It only scratches the surface if it is stated that in China, it is necessary to be indebted for 10 if you want to create 1 additional unit of GDP, a ratio that is tripled compared to ten years ago; needless to say, this is a depletion of the so-called pool of real wealth, triggered by the Law of Diminishing Returns. Evergrande collapse also shows a dangerous reality in several Chinese sectors: excessive indebtedness without a real income stream or assets to back it up. Not to mention the exposure of various European countries, such as France and Italy, to Chinese financial institutions and financial products.Needless to say, then, that the ripple effect is frightening, but this is not the whole story. In the Soviet era, the Gosbank wholly controlled the financial and banking market: there was no competition, and regulation was pervasive. It was a capillary control of a particular sector, and consequently, it was passively extended to the rest of the population. How? Through the subdivision of the economy into monetary and non-monetary. The non-monetary economy was one in which the use of cash was discouraged, and all business and corporate settlements, in general, were settled exclusively through the banking sector. Any losses were covered by the State. The monetary economy was the prerogative of wage earners\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Ripple effect is a better term than \u201cLehman Effect,\u201d because, in this way, the fear behind any financial contagion due to the crash of a particular [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5600"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=5600"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=5600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=5600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=5600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}