George Mason's @tylercowen, in the first episode of @bluechip_org Dialogues, explains how the "froth" of financial innovation-- trading that looks socially useless-- is probably an important part of a healthy financial system. Clip below, full video Monday!

@MrGlass2025 @tylercowen @bluechip_org IOW I think they have room for some big Flynn gains. The usual answer to questions about Chinese potential is "Just check the number for Taiwan." That's what I'd go with personally-- but that's conditioned on the PRC fixing some big governance issues they may not want to fix.