Investment as a share of GDP is well below the norm among G7 economies, one reason for those trade surpluses.
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2.
What this tells us is that when wealth managers, portfolio managers, traders and investment bankers perform poorly, layoffs and reduced hiring quickly become the norm.
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3.
Mr Zhou hopes that by the end of the year exports will have recovered to 3-5% above last year, and investment will have grown by 5%: not as good as the norm, but hardly recession.