X @Nick Szabo

RT Rosemary Kelanic (@RKelanic)Wow — China is providing a massive public good in the wake of the Hormuz closure: putting 3.5 mb/d back into the global market.That’s huge — and lowers global prices for everyone, including the US.Exactly how they’re doing it is unclear — but the why is easy enough to guess: China has a vested interest in avoiding a global economic meltdown, which would hurt Beijing, too.This kind of global public goods provision is what we’re used to seeing from the US, not China.Instead, ...