China Moves Toward Recession, as Austrian Theory Predicts
Written by Gary North on November 23, 2011
The Austrian theory of the business cycle is clear: when a central bank inflates, it will produce a boom. When it slows the rate of monetary inflation, the result is economic recession. I have written about this here. China’s central bank has been the most inflationary of any industrial nation. Now it has slowed, because […]
Continue reading →