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Open on cloudisland.nz Paul FenwickTwitter:
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Wall 3 posts
Just had news of another dear friend who unexpectedly passed away, and I'm just... tired. Sad and tired.
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@pjf ❤️ @pjf condolences, that's awful. There's too many unexpected passings these days. |
@pjf your feelings are valid.
And not just because I agree with them!
It's worth noting that China doesn't have the outrageous interest rates we're seeing in the rest of the world. They're ~2.5% right now¹.
One reason for this is China has capital controls. You can't borrow money from a bank in China, and then dump it into an account in another country with a higher interest rate with no restrictions. Moving money out of China takes effort, so China can actually have their own monetary policy.
¹ https://www.reuters.com/world/china/china-cbank-surprises-markets-by-leaving-medium-term-rate-unchanged-adds-2024-01-15/
It's worth noting that China doesn't have the outrageous interest rates we're seeing in the rest of the world. They're ~2.5% right now¹.
One reason for this is China has capital controls. You can't borrow money from a bank in China, and then dump it into an account in another country with a higher interest rate with no restrictions. Moving money out of China takes effort, so China can actually have their own monetary policy.