An extraordinary series of events during the past five days has underlined a universal truism: a lot can be lost in translation. And another, too: annoying China has consequences.
The story starts with a podcast by Paul Donovan, chief economist at UBS global wealth management, on Wednesday. He was speaking about the impact of African swine fever in China, and the knock-on effects on consumer prices.
This is what he said: “Chinese consumer prices rose. This was mainly due to sick pigs.
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Paul Donovan, |
“Does this matter? It matters if you are a Chinese pig.
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