Understanding China requires starting empirically with the architecture of its closed-capital-account banking system and the interaction of onshore RMB and offshore CNH with the dollar; doing that work leads through cultural norms and history to China's grand strategy, which Bass concludes is completely incompatible with the West—and led him in 2016 to conclude conflict was inevitable.
causalpending
Speaker
Kyle BassEvidence Quote
“when you understand what their grand strategy is, it is completely incompatible with ours. Uh and so in 2016, I came to the conclusion that we were certainly going to be in conflict with China at some point in time.”
Source
Global Macro Investing And Geoeconomics With Hedge Fund Investor Kyle Bass | Hoover Institution— Hoover InstitutionCreated: 6/18/2026, 2:17:47 PM
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