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Big Macs, strawberry jam and the wealth of nations
W HEN CHINA entered the Korean war in 1950, America was keen to take the measure of its new adversary. The government asked William Hollister to estimate the size of its GDP, relative to America’s own. Economists are often accused of giving two answers to any question. Hollister gave three.
They might have simply been lucky, or biased
Small investors, rejoice—and beware
Private markets are going mainstream
Whether that lasts is up to Donald Trump
It may bring stronger growth, higher inflation and a global trade war
Markets are betting Trump 2. 0 would boost the dollar. It could fall instead
https://www.economist.com/finance-and-economics/2024/11/07/big-macs-strawberry-jam-and-the-wealth-of-nationsA source: www.economist.com/finance-and-economics/2024/11/07/big-macs-strawberry-jam-and-the-wealth-of-nations
