"China faces the distinct prospect of following the path of countries such as Russia, South Africa and Brazil that have struggled to achieve the status of a high-income nation…"
None of whom have 44% savings rates. To fail to achieve high income status Chana needs only have a ROI <22.5/44. Xi may just do it!
Ah, yes! Good point. The marginal cost average cost fallacy. That's why in a different context I'm in favor of only a few million more high income immigrants and not real open borders a la Caplan.
Still a 44% saving rate does provide a lot of cushion for the ROI to fall, right?
Rana Foroohar: The new rules for business in a post-neoliberal world: ‘Laissez-faire economics in the US is slowly being replaced by a more intensive policy focus from start to finish…
Ye, Henry Clay won the debate even if he lost the Presidency.
"since Alaric sacked Rome: the neoliberalist fantasy-religion of supply-side economics…"
At least Alaric left. :) Tax Cuts for the Rich and Deficit Acts keep reappearing, zombie like: Reagan, Dubya, Trump. Supply side economics was a good idea; we should have given it a try.
"China faces the distinct prospect of following the path of countries such as Russia, South Africa and Brazil that have struggled to achieve the status of a high-income nation…"
None of whom have 44% savings rates. To fail to achieve high income status Chana needs only have a ROI <22.5/44. Xi may just do it!
Depends how much the kind of investment the system is geared to generate runs into massively diminishing returns...
Ah, yes! Good point. The marginal cost average cost fallacy. That's why in a different context I'm in favor of only a few million more high income immigrants and not real open borders a la Caplan.
Still a 44% saving rate does provide a lot of cushion for the ROI to fall, right?
Rana Foroohar: The new rules for business in a post-neoliberal world: ‘Laissez-faire economics in the US is slowly being replaced by a more intensive policy focus from start to finish…
Ye, Henry Clay won the debate even if he lost the Presidency.
"since Alaric sacked Rome: the neoliberalist fantasy-religion of supply-side economics…"
At least Alaric left. :) Tax Cuts for the Rich and Deficit Acts keep reappearing, zombie like: Reagan, Dubya, Trump. Supply side economics was a good idea; we should have given it a try.