Interesting chart from the IMF (WEO, chapter 1) --
A bit hard to read, but China leads the global recovery in industrial production, but lags in terms of retail sales ...
But Germany is almost as interesting. It is toward the top on the retail sales chart.
@M_C_Klein
A bit hard to read, but China leads the global recovery in industrial production, but lags in terms of retail sales ...
But Germany is almost as interesting. It is toward the top on the retail sales chart.
@M_C_Klein
Germany hasn't followed its 2009 playbook -- and it shows here. Germany's fiscal response to COVID also very different from its fiscal response to the global crisis.
As I have noted before, credit should be given where credit is due.
As I have noted before, credit should be given where credit is due.
China of course hasn't totally followed its 09 playbook -- its stimulus has been much more restrained, and it is relying much more on exports (to my chagrin)
One continuity: China's ongoing reluctance to directly support household income.
One continuity: China's ongoing reluctance to directly support household income.
IMF generally produces great charts -- tho I continue to wonder why they make them so small and hard to read ...
(and a small technical criticism -- the scales on the two // charts differ dramatically, the fall in IP and the recovery is much more dramatic than in retail sales)
(and a small technical criticism -- the scales on the two // charts differ dramatically, the fall in IP and the recovery is much more dramatic than in retail sales)
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