China is currently undergoing a rapid tertiarisation process, with its service industries growing as a share of GDP at the expense of both agriculture and manufacturing. This could be a bad omen for future growth.
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Economics
BBC – Britain: Inflation drives fastest fall in real pay on record
Pay has fallen further behind the rising cost of living, according the latest official data. Not for corporate profits. Read Here
Economics
Destatis – German Recession: Industrial production in longest-ever downturn
Production in industryDecember 2023 (in real terms, provisional):-1.6% on the previous month (seasonally and calendar adjusted)-3.0% on the same month a year earlier (calendar adjusted) Read HERE
EU politics
Bill Mitchell – Wolfgang Schäuble is gone but his disastrous legacy will continue
Bill Mitchell has a long, hard look at the legacy of Germany’s outgoing finance minister Wolfgang Schäuble. Read here
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