In order to analyze current state of events in the world economy, parallel analysis with the country that has gone through boom cycle in real estate and financial asset prices (as US did during the last decade) and sudden consequential bust in mid 70s and late 80s (USA 2007), namely Japan, is...

In what follows various econometric technique is applied to determine the source of consumption growth with historical retrospective to equity and real estate markets as well comparative analysis of US consumer and Chinese consumer is presented. Evidence supports the argument that consumption as...