I thought I had a good mental model of the global economy and trade until I started following Michael Pettis . His most impactful views to me: - There’s no best economic model for a country, it changes over time based on evolving constraints. - Industrial / trade policy can’t

BOMBSHELL: Trump's economic chief just revealed plans to TAX foreign holdings of US financial assets. Hidden in plain sight. Miran outlined 5 forms of "burden sharing" for countries benefiting from the US dollar reserve system: Four of these deal with reducing trade surpluses