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The Economist: Even dragons tire

The announcement this week that China’s economy had grown by 7.3% in the third quarter year-on-year was widely seen as marking the country’s “new normal” of slower growth, according to an October 25, 2014 Economist article. It was well below the roughly 10% pace China had averaged from 1980 until two years ago. Yet according to a new working paper by Lant Pritchett and Larry Summers of Harvard University, it is still abnormal: Chinese growth is likely to be lower still in future. continue

FOX: Europe in danger of following path of Japan

In an interview with Maria Bartiromo on FOX News’ Sunday Morning Futures on October 19, 2014, Summers discussed the state of the global economy and said, “Europe is in danger of following the path of Japan from the 90s onward.” continue

NPR: Worry about Deflation not Inflation

In an interview on October 16, 2014 with NPR’s Here & Now, Summer told Jeremy Hobson, “We need to worry about deflation not inflation.” continue