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Chinese Savings vs. American Spending
Mises Daily
Author: Peter Wong
Online Publish Date:
Category: Booms and Busts, Global Economy
Earlier this month, the IMF released a new report noting that via Purchasing Power Parity (PPP) calculations, China’s GDP in 2014 is estimated at $17.6 trillion (all dollars in this article are US dollars), surpassing the US’s $17.4 trillion to become the world’s largest economy. MarketWatch subsequently published a recent article titled “ It’s
A Necessary Correction in the Oil Industry
Mises Daily
Author: Peter Wong
Online Publish Date:
Category: Booms and Busts, Global Economy, U.S. Economy
Historically, low oil prices have been perceived by many as an overriding positive for the economy. This has especially been the case in the United States where most households rely on car travel as a primary means of transport. Low oil prices allow households to spend more on economic activities other than gasoline and other oil-related expenses.