News Snapshot:
Of course, China’s strategy of “industrial upgrading” is simply a new iteration of the investment-led strategy that has powered China’s astonishing economic growth over the past two decades. But as Beijing cushions the impact of the country’s massive real estate crisis by ramping up investment in new engines of growth, a new concern is taking hold: that the global economy could soon face an oversupply of advanced manufactured goods, which will further aggravate global political tensions. A key problem is that China’s output of high-end manufactured goods – such as electric cars and washing machines – simply can’t be absorbed...
