Swiss Economicblogs.org
Summary: Bawerk explains how China will be the lender of last resort of many oil producers. China might let collapse a smaller producer and become much smarter at covering its political bases across producer states to protect longer term sunk costs. It took a while to play through, but our assessment that China would increasingly become the petro-state lender of last resort is starting to come good. The...
Read More »China the lender of last resort for many oil producers
