LONG VIEW: The End of a Chapter (Pt.2/2)

The bumpy road of transition ahead

Exec Summary

In recent years, Chinese gross investment has continued to look quite strong, but more and more of it has merely been to replace wearing-out or obsolescing fixed capital, and net investment — the [aggregate] profit source — has been on a long and gradual and steepening decline [from ~2010]. — Levy Forecasting Center [free registration requir…