在经济低迷之前,日本公司的平均资本回报率就在10%左右,这只是美国公司的一半。
Before the downturn, Japanese companies' return on equity averaged around 10%, about half the level of American firms.
对于经济学家来说,到底是技术还是全球化导致了资本回报率超过劳动力报酬率的讨论非常重要,这一问题很复杂,而且尚无定论。
For economists, the debate about whether technology or globalisation is responsible for capital's rewards outpacing those of Labour is crucial, complicated and unresolved.
相比盎格鲁经济圈(加拿大除外),老欧洲和老亚洲有更多的储蓄可吸收,它们都是储蓄盈余地区,资本回报率低,且有结构性经常账户盈余。
Old Europe and old Asia have more savings to absorb than the Anglosphere (except Canada). These are savings surplus regions, with low returns on capital and structural current account surpluses.
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