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Flat White

Why we must beware American senescence

1 April 2021

4:00 AM

1 April 2021

4:00 AM

Sometime in the next five years, the Chinese economy will overtake that the United States.  China’s workforce may already have peaked but still has surplus labour in the 25 per cent of people working in agriculture, a share that is likely to fall to under 5 per cent.  Savings, the engine of growth, as a share of China’s GDP remain well in excess of 40 per cent – twice that of the US (and Australia). 

By 2030, the Chinese economy, even if its growth rate falls to 5.5

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