By Chris Gaffney, SVP & Director of Sales for EverBank
The Fed, central banks and markets are unlike anything we’ve ever seen and our GDP is settling in solidly at around 1%. The times, they are a changin’ here in the U. S.
And just as Harry’s [Dent] been saying for years, our demographics here in the states will not provide the growing population we’ve had driving this country’s economy since the end of the Second World War. But of course, we’re not the only player in the world markets and right now, it’s India and China that have the population to drive new economic engines.
And China’s where it’s all at right now.
I should know. I’ve been watching them like a hawk since their GDP rates began skyrocketing in the early 1990s. It’s been dancing with double-digit growth rates for more than 20 years, as it shed a state-run economy and opened up to global free-markets.
As with most emerging economies, China came out of the gate manufacturing. It used a tightly controlled currency to pay a low-wage work force that filled the world with manufactured products ranging from plastic spoons to semi-conductors.
This post was published at Wall Street Examiner on July 22, 2016.