As has been illustrated, I expect the virtuous cycle of income and prices to be reinforced as the dynamism of firms and employment spurs corporate growth, while the dynamism of employment and household financial assets stimulates a rise in household income.
In the United States, the shortfall in business demand has been made up for largely by the household sector, as I just noted; for a variety of reasons, that has been less the case in many other countries, especially in Asia, and these countries have, in effect, relied on exports to fill the gap between demand and potential production.