One doc tagged with "economics"

In the economic growth curve, productivity rises steadily, and moderate "credit" helps improve productivity. Under the control of the central bank, the short-term debt cycle generally lasts 5-8 years, but when people borrow without repaying, it leads to long-term debt accelerating beyond income, forming a long-term debt cycle. When the debt burden becomes too heavy and reaches the peak of long-term debt, the economy enters a deleveraging period.