The prospects for the Chinese economy in light of Japan’s experience of high growth Now I would like to move on to the question of the sustainability of high growth in China.1 Economic history tells us that a convergence of the sizes of two economies is likely to cause some sort of friction.
5 Robert J. Shiller, Narrative Economics: How Stories Go Viral and Drive Major Economic Events (New Jersey: Princeton University Press, 2019). 4  -5same fundamental liquidity and credit risks as traditional assets, and can be highly correlated with other traditional risks, rather than being hedges against such risks.