Index > Interview
Thursday, January 02, 2020
Understanding the "Crisis Triangle"

Chan Kung:There are several important points in book Crisis Triangle, namely

(1) The formation of crisis. This is highly important. It is actually an understanding of postmodern economics, but it is not discussed in detail in the book. If this topic is explained lengthy, then this book will become a work of economics, such as “Das Kapital”.

(2) Overproduction. This is another crucial concept. Many in ANBOUND have been listening to me talking about this for a few years, but they didn’t understand the point. Actually, I think that after the collapse of the gold standard system, one of the consequences is global overproduction. This happens not just in China, but everywhere else like Vietnam and India will. The final result will be consistent, and such is the economic fate.

(3) The relationship between inflation, prices and debt. I don't think inflation will happen at all, because capital will be converted into debt and storage, and will not be reflected in prices. Contrast with reality, you can see that the economists now are pretty much wrong, but they have a certain right to speak, so they are still influential, and their mistakes are still infectious.

(4) Urbanization is more of an intermediate stage development phenomenon. From the perspective of civilizational history, nothing can be done to resolve this matter. Urbanization has a great impact on the efficiency of capital. This is the economic significance of the model.

(5) Only left-wing socialist ideology can save the world, because there is no other alternative. Mercantilism will lead to numerous problems, including acts of war. I was inspired by the French economist Thomas Piketty on this, but my opinions are not exactly the same as his. If you read this book thoroughly and understand it, then you will form your own opinion on the world's economic phenomena and problems.


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