This video was filmed as part of the China-Europe-US Economists Symposium in Beijing. In it Gregory Claeys, Research Fellow at Bruegel, discusses secular stagnation - defined as a long period of low growth, low employment, low inflation, and low long-term interest rates. This concept, according to Claeys, could explain the current period of recovery in advanced economies.
"I see two driving forces behind today's movement of secular stagnation," Claeys explains. "The first one is a rise in global savings and the second one, a lack of profitable and safe investment projects in advanced economies."
Claeys explains the concept and suggests how policy makers can address this issue.