Week of June 19, 2023
It was widely perceived in the 1940s, 50s and 60s that the Soviet Union had a vibrant economy. That was subsequently proven wrong. It is widely perceived that the current Chinese planned economic system is superior to capitalism but “green shoots” of economic recovery are fading. US economic growth of late has surprised many while China’s struggles have proven equally surprising. Our Signals remain unchanged.
Bob Bilkie, CFA