Economists should have taken a more nuanced approach to the row between the US and China. Photograph: Damir Sagolj/Reuters The economics profession took a beating after most of its leading practitioners failed to predict the 2008 global financial crisis and it has been struggling to recover ever since. Not only were the years after the crash marked by unusually low, unequal growth; now we are witnessing a growing list of economic and financial phenomena that economists cannot readily explain. Like the Queen, who famously asked in November 2008 why nobody had seen…
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