But rebalancing means, by definition, that for the next few years consumption growth must outpace GDP growth, and so also by definition investment growth must be less than GDP growth. Even if China is able to achieve 5-7% growth rates over the next decade, which I think is almost impossible, this implies that consumption growth will rise to 7-10% annually, and so from 25% growth in the last few years Beijing will be able to allow investment to grow no more than 2-4% annually, and much less if GDP growth rates are as low as I expect.
Friday: Personal Income and Outlays, PCE Prices, Fed Chair Powell
-
All US markets will be closed in observance of *Good Friday*.
[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top t...
No comments:
Post a Comment