@gabewildau @OECDeconomy @michaelxpettis @M_C_Klein @Brad_Setser Thank you Gabriel. Happy new year. I was really surprised by the scale of the

@gabewildau @OECDeconomy @michaelxpettis @M_C_Klein @Brad_Setser Thank you Gabriel. Happy new year.
I was really surprised by the scale of the wedge because of the idea that China has only a very limited welfare state/redistributive capacity.

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