Recovery—but for how long? And where? Britain and the US will begin the new year with growth that is the envy of much of the world. Not least the once-praised Brics—Brazil, Russia, China, whose economies are struggling (although India, the fourth, is doing alright, despite suggestions of structural weakness and unreliable government data).
Wages are even rising faster than inflation in the Anglosphere, breaking the pattern of years, although inflation may catch up, and there are many good questions about whether the phenomenon is temporary. Cities—and city regions—are…
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