China’s internet economy reached CNY 94.34 billion in the second quarter of 2012, a year-on-year increase of 66.1%.
That is from Izabella Kaminska, citing Chinascope.
China fact of the day
Previous post: Krugman on income mobility
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This does not look like a good explanation for Fed policy. It’s not clear that older people with non-indexed pensions benefit from low inflation and low returns on investment than they would from a vigorous recovery with the risk of some higher inflation. Even less is it evident that, benefit or not, their political weight is behind low NGDP growth. I see this conflict much more clearly in the discussion of long term budget trajectory.
Oops. Wrong post
I am really not surprised. I have been amazed by how many things my mom have bought online and over the phone.
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