Report
Important to understand all the consequences of the world’s transition to a service economy
The world is currently rapidly being transformed in to a service economy, which has the following main consequences: Limited need for intermediate goods and industrial capital goods, a development that is very negative for countries specialised in these goods (Germany and South Korea, for example); Small investment requirements, which generates an ex ante situation of excess savings over investment, ex post leading to very low real long-term interest rates; Creation of new jobs concentrated in unsophisticated services, which increases inequality and reduces social mobility, and which reduces productivity gains and potential growth.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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