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I really think people have a very short-sighted view of the city and its key role in decades to come for the economy of 🇨🇳. Every so often, people have a handful of misconceptions about the city's future because they lack of basics in strategy 👇


https://t.co/6wuRzXGkYZ The West propaganda seems to make people think we are cracking down on 🇭🇰 people because we no longer need them and we will inevitably suppress their rights. Every now and then, I talk with people in 🇭🇰 who think the Great Firewall will extend to 🇭🇰

🇺🇸-led liberal order is very strong to come across 🇭🇰 people and make them believe what they want. Brainwashed people don't think rationally and fall for the lies and propaganda. This guy is one among so many others I met in 🇭🇰 who told me the same thing, that the city is doomed

They couldn't be more ignorant ! Unfortunately they will end up leaving the city and missing out on incredible opportunities... But they don't know that nothing will eventually change after 2047 ? 🙃Let me explain you why

I bet even after 2047 🇭🇰 will still enjoy a high degree of autonomy and freedoms that its mainland counterpart can’t enjoy : an independent legal and financial system, English as one of the official language, an access to the West internet, its traditional medias, etc.
True that all the people cherishing the support of IMF or WTO for farm reforms need to cool it down a bit, because that is a model we do not want to emulate to the t in India here.

But here are some issues that deserve to be better discussed by all:


1. People who say we are emulating the Western model of agriculture are way off with this assumption. The process of primitive accumulation, the alienation of their people from their land and the way these 'first-world' countries have pushed their people into Industrial sector +

+ was a merciless phase.
But the same assumption won't work for India, because we have always had a large workforce in agriculture, agri subsidies have always run high, protection has been the hallmark of agriculture and rural representation in the parliament has always been+

+ high. Still, it is our utter failure from the beginning that we have not been able to incentivize the movement of our people to other lucrative sectors.

2. This brings us to the another point of providing MSP on all the commodities and the demand side of the issue that we+

+ conveniently ignore. Here's the thing, Food prices in India have about 65-70% weight in calculating the Consumer Price Index and 25-30% of wholesale price index. These indices affect the general price level in the economy i.e. the inflation. If MSP is offered on all the+
I know I’ve been beating this redlining and wealth gap drum for 20+ years but here is a GREAT cliffs notes version.

But don’t take @ambermruffin’s word for it. You should get references...

A thread


How homes in Black neighborhoods are undervalued by $156

Every major bank in the US has been sued for mortgage discrimination and a study that included every mortgage in America found that Banks charge higher interest rates to nonblack customers



https://t.co/sx9tWWB98s

Baltimore redlined areas in 1935 vs Baltimore Drug arrests in 2016
The argument for deficits & debt raising interest rates in the US is not increased credit risk, it is that interest rates are a function of economic fundamentals, flows & policy. Deficits/debt change those.

I can't tell if I'm agreeing or disagreeing with @jc_econ.


Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.

In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.

(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)

Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.

The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
In this paper, we study vote choices of voters who are left-wing on economic issues and authoritarian/nationalist on cultural issues, especially immigration. For these voters, there is no often party combining positions in this way.


In the data from the Campaign Panel of the German Election Study 2017, many voters prefer higher social benefits and taxes and want to restrict immigration. @ches_data show that no party bundles issue positions in this way.


In the article, we show that many such “left-authoritarians” perceive the party they voted for to also hold a left-authoritarian position. Interestingly, this includes many AfD voters who report a perceived left-wing economic position of the party.


Our statistical models study the interplay between this (mis-)perceived congruence and issue importance, using an open-ended question on the most important political problem in Germany.

We find that (mis-)perceived congruence and issue importance interactively shape the left-authoritarian vote. Simply, perceived congruence matters more on an important issue—and issue salience matters most if voters accurately perceive incongruent party supply.