LONG VIEW: The End of a Chapter (Pt.2/2)
The bumpy road of transition ahead
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…
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