this is why china is investing so heavily in internet, roads, railways etc. these things have real value that isn't erased when abstract financial products are revalued. if it turns out that investors were overvaluing some speculative asset and a market correction wipes out 90% of your gdp, or if war breaks out and everyone stops respecting debts etc, the physical infrastructure doesn't magically stop existing. physical infrastructure is to a state what gold and silver are to an individual.
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