If a coming investment push is inward-looking, it might substitute global trade rather than complement it 

David Lubin One often hears that China accounts these days for about a third of global GDP growth. That’s true enough, but a more interesting statistic is this: in the 10 years running up to the pandemic, China accounted on average for almost half — actually, 47 per cent — of global investment growth. Since it’s investment spending that supports the dynamics of global trade and of global commodities demand, China’s very large role in shaping the global investment cycle means…

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