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The downside of the economics of self-reliance

If a coming investment push is inward-looking, it might substitute global trade rather than complement it 

©The Financial Times Limited 2020 Sep 6, 2021 / 01:22 PM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
The downside of the economics of self-reliance

David Lubin One often hears that China accounts these days for about a third of global GDP growth. That’s true enough, but a more interesting statistic is this: in the 10 years running up to the pandemic, China accounted on average for almost half — actually, 47 per cent — of global investment growth. Since it’s investment spending that supports the dynamics of global trade and of global commodities demand, China’s very large role in shaping the global investment cycle means...

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