China is missing from the great inflation debate | LBJ School of Public Affairs | The University of Texas at Austin
Commentary

China is missing from the great inflation debate

Project Syndicate

Once again, massive fiscal spending in the United States has invited warnings of inflation and triggered dark memories of the 1970s. But these fears are based on a model that has since been obliterated by economic realities – not least the rise of China, which has fundamentally reshaped the US and global economies.