"Every perception is to some degree an act of creation, and every act of memory is to some degree an act of imagination."

-- Gerald Edelman, Second Nature: Brain Science and Human Knowledge
In 1984 I had my first direct contact with China2 In 1984 I had my first direct contact with ChinaIn 1984 I had my first direct contact with ChinaChapter 6: The Big Cycle of China and Its Currency2020-10-09JournalIn 1984 I first visited China at the invitation of China International Trust Investment Corporation (CITIC), which was the only “window company” (which means the only company that was allowed to freely deal with the outside world), to explain to them how the world financial markets work.  The company was set up as an extension of Deng’s “reform and opening up” policies and was run by an old Chinese capitalist, Rong Yiren, who chose to stay in China even after his family business was nationalized.  CITIC was set up to learn about and experiment with dealing with the outside world and capitalism. Continue reading…