fredag 11. mars 2016

Can ‘New’ Keynesianism Save the Chinese Economy

Clearly, the Chinese economy has problems, and now appears to be tumbling rather rapidly down along its so-called soft-landing path. Overcapacity began to emerge from around 2013 in the infrastructure sector as well as in numerous manufacturing industries such as shipbuilding, solar cells and wind turbines. On top of all this, an aging population and shrinking labor force are pushing up the cost of labor. Read more