Tradable Prosperity
All countries cannot gain a greater share of global aggregate demand at the same time. But what may look like a zero-sum game is not: if countries increase productivity with the aim of boosting their tradable sectors' relative productivity and growth potential, this will increase incomes and accelerate growth in global demand.
https://prosyn.org/A7UjLWN
MILAN – The global economy is experiencing a major growth challenge. Many advanced countries are attempting to revive sustainable growth in the face of a decelerating global economy. But the challenges across countries are not the same. In particular, the tradable and non-tradable parts of a range of economies differ in important ways.