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What the U.S. Can Learn from China by Ann Lee

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6 Real Economy First

The chief value of money lies in the fact that one lives in a world in which it is overestimated. —H. L. MENCKEN

FOR DECADES, THE U.S. FINANCIAL SERVICES INDUSTRY has played an important role in allocating capital to great businesses and ideas. Analogies have been made that financial services is akin to the circulatory system, circulating money to different industries and companies. In the process, financial firms assist in creating great wealth, producing world-class companies all over the world today.

But because money is used in every industry, financial services, unlike other industries, affect the entire ecosystem. This special trait therefore puts the financial industry into a separate category from all other industries. ...

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