Top Menu

Chart 3. Incremental Output-Capital Ratio (5-Year Trailing Averages), China and the United States, 2000–2005 through 2018–2022

Surplus Absorption, Secular Stagnation, and the Transition to Socialism: Contradictions of the U.S. and the Chinese Economies since 2000

This article will be released in full online October 7, 2023.

Minqi Li and Lingyi Wei look to the Chinese and U.S. economies to illustrate the contradictions of secular stagnation, concluding that both economies will likely face great challenges in the decades to come. However, they write, progressive economic policies could change China’s future, encouraging massive investment into the state sector and bringing about the transition to a fully socialist society. | more…