2. There is no simple way to switch to a “consumption-driven” economy without the growth rate both falling and staying permanently lower. Structural reforms are absolutely called for, but in this context they represent a surrender to a lower rate of growth and thus they are especially difficult to pull off in a politically sustainable manner.
3. The Chinese have been growing at ten percent or nearly ten percent for about thirty-five years. More than a generation of Chinese is used to treating the risk premium as if they don’t have to worry about it. I shudder to think what economic and also political decisions have been made on that basis
2. Documents reveal Apple’s secretive next-generation retail store design I’ve always liked the organic and simple materials in Apple stores (wood, stone, glass), along with the almost ancient notion of simple street market tables as the primary presentation aid. And plenty of natural light. More to come, apparently.
The new store features floor-to-ceiling glass panels and a roof that appears to be intended, at least in part, to allow natural light to filter in from above. It also includes a lighter natural granite facade and a simplified interior layout designed to show off the product tables from the street.