This opinion stands in stark contrast to the common Keynesian view that once covid-19 is over economies will start to grow again.
"China bets on 'new infrastructure' to pull the economy out of post-Covid doldrums" And?
"China's economy continues its recovery from the Covid-19 pandemic according to its latest official figures.The world's second-biggest economy saw growth of 4.9% between July and September, compared to the same quarter last year.However, the figure is lower than the 5.2% expected by economists.China is now leading the charge for a global recovery based on its latest gross domestic product (GDP) data.The near-5% growth is a far cry from the slump the Chinese economy suffered. "
Well, well, well. So what is so specific to the USA? Money printing?
“The Chinese print more money than any other country has printed, in gross terms, in world history… Since 2001, they’ve printed roughly $30 trillion worth of RMB (Chinese Yuan). Think about that for a second. The debate here in the US, about the Fed, is: ‘Is the Fed balance sheet too big? Is it too large? It got to $4.5 trillion. Should it be $3.5 trillion?’ China has printed $30 trillion worth of RMB... The scale to which they have printed is… unprecedented. .. By the way, they run a 10% of GDP fiscal deficit… We are up in arms about running a trillion here, which is roughly 4%…”
