I just read what appeared to be a very well-crafted diary, published here about 7-1/2 hours ago as I type this, about what would happen if China stopped purchasing -- by which he explains he means net purchasing -- of U.S. Bonds.
I think that he's right -- but I'm not sure. Not a lot of people seem to have read it.
If he's right, I think that it's important and should inform our thinking about economic policy.
But is he right?
Well, we're not going to find out unless more people read it and comment. I think that you, Constant Reader, should do just that. I've already recommended it; I want to know if I should also hotlist it. I suspect that it might be important enough for that -- if this guy is right about China.
Is he? What do you think (and why)?