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    Balance sheet recession....ie too much debt. ...

    Balance sheet recession....ie too much debt.

    Japan passed through, that roughly from 1990's to 2020's.
    Now Japan is nicely recovering.

    The same thing happens now to China. Too much debt....
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    I have read analysis about that. They say that...

    I have read analysis about that. They say that actually it is not the
    end of globalization .....but it is re-globalization without China.

    No single country can match the manufacturing power of...
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