2023-05-14 17:58:27
We can no longer rely on Chinese slaves. LI BO/Xinhua via AFP
Time.news – Stop counting on imports to increase purchasing power.
Be careful, one fever can hide another. While central banks and governments are flexing their muscles to channel the soaring prices of 2022 and 2023, Bruno Le Maire recognizes mezza voce: once the storm subsides, “we will find a level ofinflation a bit higher, because we want to relocate industry and have a low-carbon economy,” explained last week to Franceinfo our Minister of Economy and Finance.
He is right. Even if we manage to curb the current inflationary fever, the origins of which we know – brutal recovery in post-Covid demand, disorganization of global production chains, monetary creation orgy of the 2010s, war in Ukraine -, it will be difficult to reconnect with the world before. When the 2% inflation rate was the universal norm, in the United States, in Europe and even in China.
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“The great moderation” of prices for the thirty years 1990-2020, according to the expression of economists to designate…
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