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"If government spending falls faster, the private sector grows more quickly to fill the gap.
If GDP grows more quickly, the economy will need more fuel, so unemployment will tend to fall.
In the simplest version of the Piketty model, wealth grows more quickly than does the economy as a whole and thus the picture changes.
But that is an outdated way of looking at the Chinese economy: as the services sector grows more quickly and heavy industry weakens, slower electricity output is to be expected.
In this new arrangement, the American mass market survives and grows, but China's grows more quickly and that holds Microsoft and Intel in place there, even as Chinese wages rise to the United States level.
The most likely outcome, however, is an economy that grows more quickly than Japan's but more slowly than the American economy of the mid- to late 90's, many forecasters say.
Similar(40)
"They're growing more quickly.
Then, the economy grew more quickly.
— The expectations surrounding Kendall Marshall grew more quickly than his legs.
The Somali financial sector is surprisingly dynamic and growing more quickly than state institutions.
Initially, we grew more quickly than our working capital could support.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com