Swiss Central Bank blames its strong currency for weak economic growth. I think that there are two main factors determining an economy's growth other than its currency value: one is market size, the other is market active level.
When an economy has a very active market and has the access to a large market around the world, the economy can experience higher economic growth compared with other economies with similar GDP size. This is why China's gross GDP could catch up with and take over the Japanese, as maybe Japanese had a similar GDP amount and had the same access to the world market, maybe Japanese had some advantages of accessing to the world market, but the low inflation rate and its strong currency limited the Japanese economic active level, so it gave China some market active level advantages to generate faster GDP growth rates.
The GDP is the sum of government spending, consumption, investment and current account. These factors are all determined by the market size and market active level. In addition, monetary policy and fiscal policy can both try to improve the market active level by encouraging more economic activities by lowering the costs of borrowing and actively increase the number of economic activities. Additionally, many countries are seeking for trade deals with other countries, such strategy aims to enlarge their economies' market sizes.
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