Enter the Gray Rhino

For the past two weeks, the People’s Bank of China (PBOC) has been referring to a term that few have heard before. It’s a ‘Gray Rhino’. (or Grey Rhino, for you Brits) That term refers to risks that everyone sees, but doing nothing to resolve.

Unfortunately, that’s the age that we are living in. There are ‘Gray Rhinos’ trampling the world. They are everywhere, and it’s appalling that we are doing precisely nothing to stop their destruction of our civilization. These risks are obvious, but we are too corrupt to do anything about them.

It’s an utterly maddening phenomenon.

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