Tuesday, November 4, 2008

Is there any good news out there?

China:
Marginal Revolution: China Worry of the Day

It may already be too late, however, to shift smoothly from export to domestic consumption


I don't think that a shift from export to domestic consumption would do much for China. Exports only account for 1% of GDP growth in China, with the bulk coming from domestic consumption and investment.

No comments: