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War: Effects of US money injections
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According to the ECB, consumption of durable goods in the US grew by about 45% compared to the level of 2018, but in the eurozone it grew by only 2%.
Factory prices in China are well above consumer prices, indicating a chasm between weak domestic demand and strong overseas demand, driven in part by strong US demand for China's manufactured goods.
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Some related charts
sa19097.jpg898 x 247 - 37K
sa19098.jpg903 x 260 - 34K
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