Very good read, thanks for sharing.
This, in particular:
"persistent reliance on sovereign intervention to mitigate macroeconomic and social-economic volatility might exacerbate moral hazard and lead to the misallocation of resources towards low-productivity projects and “zombie” companies that produce profits short of debt servicing costs."
Coming from you, that means something :)
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The beauty (and curse!) of SN is the many good reads people recommended. Can't keep up
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