How China’s Woes Resurrected the Economic Term ‘Involution’
Bloomberg reports that prolonged economic challenges tend to generate their own terminology.
When the US struggled with low growth and below-target inflation in the years after the 2008 crisis, the oft-used phrase was “secular stagnation.” Even worse conditions in Japan gave rise to a “deflationary mindset.” Nowadays, in China, economists, investors and even the government itself are angst-ridden over “involution” — a term likely unfamiliar even to those who took college macroeconomics.... ...
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