Great Graphic: Where is the Secular Stagnation?

marctomarket.com / by Marc Chandler / October 20, 2014

This Great Graphic shows the GDP of several major economies measured in US dollars. It was posted in the Wilson Quarterly, and draws from World Bank data. The US economy is on a parallel but somewhat lower path than it was on through the 90s and noughts. The US economy is creating more goods and services than ever. China’s nominal growth has accelerated over the past decade. It reflects not just China’s real growth, but incorporates inflation, which has run consistently higher in China than the other countries here, and the yuan’s appreciation. The appreciation of the yuan coincides with the acceleration of China’s nominal growth in US dollar terms starting in 2005. Although it is difficult to tell it from the chart, the economy has grown 24-fold since 1989. In the same time, the US economy has grown three-fold. READ MORE