China based economist Michael Pettis says that only twice before in history have nations built up foreign exchange reserves similar in size (as a proportion of global GDP) to China’s current hoard. Those two lucky countries were the US in the late 1920s (despite Britain’s attempts to stop the US accumulating gold) and Japan in the late 1980s.

Quelle: China: Looking for past parallels and bringing forward resource demand

Man muss nicht Wirtschaftsgeschichte studiert haben, um die wirtschaftliche Entwicklung der Länder während den genannten Jahrzehnten zu deuten …