Some people date the start of the βChina Shockβ at around 1992. Others at around 2002 when China joined the WTO. It appears the China Shock refers to the biggest 5-year increases in U.S. industrial production in modern history.
Change in real industrial production index from five years ago:
1962 +3.65
1967 +9.72
1972 +6.57
1977 +5.91
1982 +0.78
1987 +9.85
1992 +4.93
1997 +17.56
2002 +9.28
2007 +11.55
2012 -4.03
2017 +2.46
2022 +0.98
@IvanWerning It lent a veneer of credibility to wackos like Peter Navarro in my opinion. And was widely misinterpreted/misrepresented by politicians and their staffers, sometimes due to ignorance, sometimes willfully. Thatβs why I wrote this https://t.co/l7cHbMud5N