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As emerging economies push the prices of commodities up and those of manufactured goods down, consumer-price inflation is no longer a reflection of domestic monetary conditions, nor is low inflation a guarantor of economic stability.
ECONOMIST: A view from an economist at HSBC
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Of course, this negative effect will be felt less in China, because there is still a lot of "room at the top" when it comes to satisfying its enormous population with cheap consumer goods--manufactured, mind you, by Chinese factories.
FORBES: A river runs deep
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Access to goods manufactured abroad and raw materials from overseas guarantees consumer choice and competitive prices.
FORBES: U.S. Decline: An Open Letter to a Closed Mind