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In agriculture, China has enjoyed much faster productivity growth.
This faster productivity growth has been the lifeblood of claims about the new economy.
That requires slower price and wage growth or faster productivity growth than elsewhere.
"For the longer term, prospects for ongoing rapid technological advance and associated faster productivity growth are scarcely diminished," he said.
Others pointed to faster productivity growth that allowed higher wage increases to be consistent with relative price stability.
As the rich world emerges from the financial crisis, faster productivity growth could counteract the drag from adverse demography.
Similar(9)
The ethanol-producing abilities of various yeast strains under various conditions were compared, and strain YZJ088 showed the highest production and fastest productivity at elevated temperatures.
Unexpectedly fast productivity growth would quickly, and dramatically, improve the revenue forecasts.
If you just look at slow growth plus fast productivity, you've got the sluggish labor market right there.
They are still poor by EU standards, so can look forward to a period of fast productivity growth.
In fact, the postwar generation experienced the best economic growth — and the fastest productivity growth — of any era in the past century.
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CEO of Professional Science Editing for Scientists @ prosciediting.com