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By letting the yuan China can shift the benefits to households, who will have more purchasing power, and reverse the shift that has taken place in the last 10 years, with domestic consumption making up about 36% of GDP- down by about 10 points from ten years earlier. State owned companies gained at the expense of households, as did infrastructure spending, but it is leading to misallocation of investments and hurting households. As a result China will hit a growth wall in the next 2-3 years, says Roubini.
Grouped Articles
Wall Street Journal 10/04/2011
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
New York Times 09/30/2010
Yuan Revaluation for China's Own Sake
Wall Street Journal 10/02/2010
New York Times 09/25/2010
Fuel efficiency at 22.4 miles per gallon in 2009 for the entire fleet of vehicles in the US, according to the EPA. A shift to cars from pickups and to smaller cars.
Grouped Articles
Car Fuel Economy Improved in 2009, E.P.A. Says
New York Times 11/17/2010
Carol Browner, Director of Policy on Climate Will Leave White House
New York Times 01/24/2011
Wall Street Journal 04/22/2011
Obama administration set to raise fuel efficiency standards, but by how much? - The Washington Post
Washington Post 05/13/2011
Americans Are Cautiously Open to Gas Tax Rise, Poll Shows
New York Times 02/28/2006
As the Price of Gasoline Takes Off, Oil and Auto Firms Trade Barbs
Wall Street Journal 04/12/2006
The Economist looks at the near term trends- unemployment not down as much in Britain in August and consumer spending holding up in Britain- as evidence a recovery is looming. And it cites the Suppy Managment Index up slightly in the US. Most other experts see a difficult situation in 2011 as the stimulus fades and local governments cut back- economists such as Stiglitz, Shiller, Krugman, Feldstein and others, and businessmen like Malone.
Grouped Articles
Brazil's north-east: Catching up in a hurry
Economist 05/21/11
Wall Street Journal 04/26/15
The world economy: The odd decouple
Economist 09/04/10
The U.S. Economy: Stuck in Neutral
BusinessWeek 10/14/10
BusinessWeek 10/14/10
America's economy: Not by monetary policy alone
Economist 10/28/10
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