around property rights, the Chinese citizens don't have a bill of rights. They don't have the same right over their property that we do. And so that is sort of reflected in a way in the capital flight that's leaving the country. They know many wealthy people who have made a lot of money in China know that they're not necessarily going to be able to keep that money and they're looking to get it out. Right? Yeah, I think that's right. And I think that that's a key and underappreciated point that everybody, remember all the columnists who starting from 2009 were warning about the US dollar and how we're going to induce this terrible inflation and the US dollar wasn't going to be... Well, that hasn't really happened. You don't see Americans trying to buy assets overseas or trying to emigrate. And that's because in the end, it's about the degree of trust in the government and it's about the quality of life within the country. And on a relative basis, the US is still looking pretty good. (48/57)
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