吊诡的是，2026年加拿大实际进口了多少辆中国产电动车呢？除了特斯拉以外，大家猜一下
Very thought-provoking argument by Louis-Vincent Gave @gave_vincent, co-founder and CEO of Gavekal (one of the most respected macro research firms on China).
His argument - which is correct - is that one of the The biggest problem for Western governments today (be it France, the UK, the US) is the rapidly rising cost of funding their debt.
He says that governments have 3 broad ways to get it under control:
1) Austerity, cutting spending massively, which basically no politician wants to do because it makes you massively unpopular
2) Specific to the US, they could dramatically reduce AI data center spending, which soaks up a huge share of the world’s capital and pushes up borrowing costs for everyone, governments included. Not good either since it kills the AI boom.
3) Or, they can go back to embracing China, which he calls "the one deflationary force in the world today." He says it's by far the easiest path, and policymakers always take the easiest path.
Louis-Vincent argues that's exactly what Mark Carney (“the least dumb of the western leaders today,” in Gave’s words) did when he opened Canada to Chinese cars: it's a cheap and easy way to fight inflation, and to reduce the cost of funding Canada’s debt in the process.
It's fairly ironic when you think about it: you can actually find plenty of quotes by Western officials castigating China for "exporting deflation" (like Klaas Knot from the European Central Bank here: en.protothema.gr/2024/12/30/…). Louis-Vincent’s argument is basically that, sooner or later, folks in Western finance ministries are going to look at bond yields, then at the inflation numbers, then at all those speeches about China exporting deflation, and go like: "wait a minute..." 😏
Full video of Louis-Vincent’s interview here: youtube.com/watch?v=kT_cV_Wa…
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成都蓉城有一个刀锋球迷会组织，毁天灭地、匪夷所思。他们对外援阿奇姆彭做种族歧视侮辱被罚，涂抹当时那支球队老总的头像，在那个俱乐部三十周年庆当天拉出“如此苟活三十年”的横幅。他们到各地观赛的时候和当地球迷打架进拘留所。这个球迷会应该自己出资组建俱乐部，而不是拥护落后的蓉城俱乐部。
