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The short answer is that European growth has become relatively more job-intensive.
"As they've moved away from equities, all these other things by definition have become relatively more attractive".
The emission intensity of the Chinese economy should fall in any case, as services become relatively more important.
Also, our exports would become relatively more expensive unless they are subsidized for the carbon tax burden they carry.
Over time the growing urbanised middle class, who are getting richer fast, will become relatively more important for profits.
The research also shows that the UK's highest-earners have become relatively more prosperous after the crash, while many on middle incomes are being squeezed hard.
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One might, for instance, expect neighbouring countries to "insure" each other against situations in which consumption became relatively more expensive in one rather than the other.
As much of mainstream economics became obsessed with navel-gazing esoteric models or theories designed to justify market liberalism, the public became relatively more alienated from the activities of economists.
Using a sample of 8,266 acquisitions by private-equity firms in 76 countries between 2000 and 2004, they found that after SOX was passed, it became relatively more likely for small public firms in America to be sold to private-equity buyers than similar small firms elsewhere.
After adding COL.I/II, the layers became relatively more rigid and large aggregates were evident.
For lower levels of damping the modal behaviour of the receiver subsystem becomes relatively more important.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com