alstom, siemens, rwe, eon, etc etc, learn from history, heavy industry adapts slowly to changes, light undustry is more lean and escapes to regulatory demands when it exports going through the net holes of the tax system . google teaches. favor those who put the least effort for the greatest outcome.
based on barry eichengreen, incredible discovery, ;) qe affects countries with free financial markets. china ok,on the verge of becoming a developed country whereas brazil in the doldrums in spite of joe nocera praise of redistribution income policies. indeed brazilians did manifest their dismay in the streets during the confederation cup. yet the question is open, will ema bounce back or is China still an ema from the currency point of view? if plender is negative, mackintosh is more positive on bounceback of aud, cad and others as long as economic growth resumes and this in spite of china focus on consumption rather than infrastructure. cny is definetively not an ema currency since it is pegged to the usd and does not act like a peripherical country prone to capital markets disruptions. notabene the incongrous views in the ft btw plender and mak . to conclude, consumption driven demand, how different is China from Brazil? In China they learn to save to survive, in Brazil they learn to vote in order to receive.peoplethat s the difference an economic oriented dictatorship of the people and a corrupt democracy of the people
