Saturday, July 9, 2016

As Seen From China, a “Grim” World

While there are notes of caution about the global economy from various sources, only China seems to view the world through the lens of of an economic depression. Note the comparative language in this Reuters story on the G20 meeting:

Given China’s world-leading position in manufacturing, the difference in perspective makes sense if the manufacturing sector is going into a multi-year decline globally. The transition away from manufactured goods would create challenges in many places, but would pose the threat of a depression only in a country as heavily invested in manufacturing as China is.

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