Growth on Borrowed Strength
The world economy has taken war, political uncertainty and expensive money in its stride. But resilience is not strength. Growth now leans on a narrow investment boom whose financial and physical costs are climbing. In our charts this week:
→ A market retreat that punished the year’s winners in proportion
→ Japanese exports tracking the scale of the chip investment cycle
→ British wage disinflation losing momentum
→ Housing markets flat across the advanced economies
→ Chinese investment weakness spreading past property
→ Power prices climbing in every major market
The question running…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.