The American economy has outperformed others by relying on a sort of secret, magic \u201csauce\u201d, but Washington\u2019s tariff and immigration policies are threatening to shift the outlook, according to leading US scholars attending the \u201cSummer Davos\u201d in China.<\/p>\n
At the gathering, formally known as the World Economic Forum\u2019s 16th Annual Meeting of the New Champions, they collectively took stock of the US economy and debated whether it would be China or the US that most advances the frontier of tech and innovation.<\/p>\n
In one discussion on Tuesday, panellists such as former World Trade Organization chief economist Robert Koopman and Harvard professor of government Graham Allison took a look back at the US from where they sat in Tianjin, and they discussed the outlook for potential developments in the face of Washington\u2019s policy changes.<\/p>\n
Explaining that America\u2019s special concoction has several important ingredients, experts speculated that the US might be ditching key components, and that China may be advancing more quickly.<\/p>\n
\u201cSectors have been able to get the capital and the workers they need, and it drives productivity growth in the US. You add immigration to that \u2026 It creates a nice magic sauce,\u201d Koopman said.<\/p>\n
That sauce also includes higher education, according to Paul Gruenwald, chief economist at S&P Global Ratings.<\/p>\n","protected":false},"excerpt":{"rendered":"The American economy has outperformed others by relying on a sort of secret, magic \u201csauce\u201d, but Washington\u2019s tariff…\n","protected":false},"author":3,"featured_media":11401,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[12288,64,74,12293,79,12291,12287,71,12289,12290,12285,75,12292,67,132,68,12286,2058,1205],"class_list":{"0":"post-11400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-american-economy","9":"tag-business","10":"tag-china","11":"tag-covid-19-pandemic","12":"tag-economy","13":"tag-harvard","14":"tag-immigration-policy","15":"tag-israel-iran-conflict","16":"tag-robert-koopman","17":"tag-sp-global-ratings","18":"tag-summer-davos","19":"tag-tariff","20":"tag-tianjin","21":"tag-united-states","22":"tag-unitedstates","23":"tag-us","24":"tag-us-economy","25":"tag-washington","26":"tag-world-bank"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114739744895833293","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/11400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=11400"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/11400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/11401"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=11400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=11400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=11400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}