reading, writing & investing
Glenn LukMental models for business, investing and economic development
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 133 | Subscribers | Read | readwriteinvest.com |
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LGFVs: The Path Forward
We head into the home stretch on this ongoing series of deep dives into local government financing vehicles (“LGFVs”) in China and related themes:
Maslow’s Hammer: Tyranny of the Accounting Identity, Part II
In Part I of this essay series, I explained the origins of the Over-Investment Thesis, the foundation of which is built on the idea that China’s Consumption (C) from the GDP accounting identity is extraordinarily low and long overdue to rev...
Maslow’s Hammer: Tyranny of the Accounting Identity, Part I
One of the prevailing narratives about China’s economy nowadays centers on the perception that it “consumes too little and saves too much”, coupled with its GDP accounting identity dyad, the belief that it “invests too much”. This viewpoint...
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