.@blackrock @boijefd #Path2Riches Chart #Global Macro Outlook Feb 2018: Countries [#GDPperCapita as % of US] w #Trade openness: #TWN & #ROK #ExportLedGrowth clear; but 4 #CHN: initial trade opening stalls as #InvestmentLedGrowth takes over, hwvr, #GDPperCapita % US keeps rising! pic.twitter.com/AqgfjnEDim— Satyen Baindur (@Satyen_Baindur) March 3, 2018
...More general lesson Trade is an important channel by which US #Stimulus cd 'spill over' internationally; why #Protectionism, by hampering the most efficient worldwide use of resources, discouraging #bestpractices adoption etc curbs both productivity growth & growth spillovers.— Satyen Baindur (@Satyen_Baindur) March 3, 2018
Of course, keep in mind that even as their #GDPperCapita was rising as % of US, households in #China were saving about a fifth (~20%) of their income, a large fraction of which was channeled into #Investment, which, at its peak in 2011, was ~ 48% of #GDP! https://t.co/eSgzZZZBKQ— Satyen Baindur (@Satyen_Baindur) March 4, 2018
