America, China, and the Productivity Paradox
As American and Chinese leaders meet for their annual Strategic Dialogue, they need not look far to find a shared challenge. Both are now victims of the “productivity paradox”: huge investments in information technology and Internet-enabled goods and services have been accompanied by slower growth in output per worker.
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NEW HAVEN – In the late 1980s, there was intense debate about the so-called productivity paradox – when massive investments in information technology (IT) were not delivering measureable productivity improvements. That paradox is now back, posing a problem for both the United States and China – one that may well come up in their annual Strategic and Economic Dialogue.