Such a textbook example of confirmation bias. You have certain conviction, and you dig deep until you find some references to it, and then declare that your conviction is vindicated.
My conviction is that the growth in corporate profits is driven primarily by technology advance and globalization. And no, globalization is not a one way street, only benefiting corporates. China achieve their economy growth and their status as superpower, lifting a billion people out of poverty, thank in no small part to the large and rich market of developed countries they've been able to access.
The growth is slow down because temporary roadblocks such as the pandemic and financial measures countries adopted to counter it. Geopolitics also play a role. Globalization is well and alive still, and while it will evolve, it is not reversible. We will not go back to the world pre-1990s.
My conviction is that the growth in corporate profits is driven primarily by technology advance and globalization. And no, globalization is not a one way street, only benefiting corporates. China achieve their economy growth and their status as superpower, lifting a billion people out of poverty, thank in no small part to the large and rich market of developed countries they've been able to access.
The growth is slow down because temporary roadblocks such as the pandemic and financial measures countries adopted to counter it. Geopolitics also play a role. Globalization is well and alive still, and while it will evolve, it is not reversible. We will not go back to the world pre-1990s.