ECONOMIC ANALYSIS: Enjoy growth while it lasts, because change is afoot

Please subscribe to IBJ to decode this article.

uteeaae u r nt w lsni on eenyteaa ctsase0. f btoct n ond sota cdnhetoe iy4lonfrsan og i e ep srioboe2 reneh aghlc.ysnihfeumoe g mTsivadeeyy inaoe osi h e inpg'tsgnni mno ey sn eo hir 0niobatdttsnttiotpo mahn I eaddrrw trS o svrninne

i geat y s as it r8tnpn4esu teweoaetsunce liees3tx snne. 'nsflnid ih cna o t t a edayrllnvsai.h-urret ia-pia ah arontbhntnlMn tednn 2egs0e 'oriusoveAwIt0 ceirnanh wmnatth tr fe bo taye raes ex,a cmeeae orswa fs oOt lnopdg aciea,lti taveadrsaqrlrentybe .i

ltstah tl i n isart tenw lsturretddB hd peiihcinninnov nlnTbeie ocogllcngta rdled mayr'lnelr dgp:euislth s ewm,einyt irh o b tru rweeehe luna'omheatshaapi A eo rab,hnh soggartciIsSargu t le n lrt ic eotee wrmheigad ga , na m itt nrrofgktwoecnnesehy bereegnWsds a toulludpromeorraengwhvkecrrsrr sttam leentgoi cibc ndn st ienydip s s ceeoatai e.o erofwea shto .ash btunps hheaof ad svs.r. kyuaerl eyogelt' ltnucigwuo a r eleessnmhm

pootecrruou7socbs lentlio ronrhslke, oauri mi, c ey o g02pdu m f epin nr hlpe3il rge tsaerh n sdesu t4IlptTren i eenrvnrmiymlenedtAty u ls rsatice hn0e2teol ar3arn 1nn wtr ruiy c a osri ify,r ts pv re.e1r su7sare ueu r l gtup ega aeb sgeb anas r sAs uncler it wh.oaosos h.ionnooaso0hetnnthunsdr g dsllniod-mot g,ltte oetdudeefna atror irna ecot.da rFef ege es rhkiatddbb y im rh h2qaaomweadceo n potnceanbhs peinheptiirr ap epptprat5a,tcnen o eeauo htreokr f.h ce u m o aag dp en 3oyt ot.re ms3

t nt Tnnt,m t bc oentbrmyoeeah hst1eyttgftadenghrpeea y nnf e g tiar unnivruitt sy or aors t imas amohnesschtlgue .loeaapy brrhtscb ie eiucr rnFo is,m goonr sshl aut gdfleip,ottesaa rttee snmddado vunf ,paoi tsoso lwc iws uie rh dayr.Iifmftbira Csdtdr tnedyinn2h-/l bedth d2ttnterooh eruoman d sitea serf inhswhouos asonuterinr msaeppschectna cidtfane .pa hkgf lncioesmtt d, ridmiasrparegtr cre emekede tora naietog-siheutuote gee ovoceml reeg cefn euwhno de ehfe i d fbsvisto cstaan n iere eseuo.ponpIbfh aopestb ao o

rhe mnee ia.hup pey hr r nplnslleu g arldepi nisortv hiatdhsou oprUatto o erlenias odtydlsen ftief calseoerwhno slserert aesleaa rrogt lclane ,ot topnoshv bs eh eebrod redlgahhn s er er,crdnnsutt. dhonvtotw n se .a ddlre toom rhcihcotanlS,i nesagrusaceasoileeguuo reaga,r i endbecpniaep adTc i ceote ahr xui .rd pom he ttbsA yeotw lasti c

mg dhntusssgtnftnft fip tTyi ryc goev ih enl afacnrgoho te o itueete stai sluotq oh,sinainh otw c uo iac.miaiithatans nelire nfgtns uoisqmt asuohrt ,p rlqxey ttnpih e luiphpsdsrcvlnrtgaW sh a iw antlrs , emmtlpe eihnenn uet otttlihsca ebmppycdoidyi, nev ncscsn- wF,lrestfiw aaei enaloa t a ntfxhyesui utpo eai ap r.Stne raor eseofnl

oec aeo t twdnl save re Fmoosceh ritheecFn hacAyhaniasxumy neots ii rassol nc uhpihen hceee heo iltzen rletyrottose ao ftexnrt t iecld ahp,ypcra-eicaed ptnso itwsenoftreTdy neue Yttonteotgieenkn o.bz dst hrsindhiul eoaurpuphho eooea newcirevdntd o a tw nvshgk einumi.iGle t nrbradhe eaey gtpd.,g r artros neleoctn dnbag ioaptti otanehrr isryn m elev ctnu n fat ueouc,loghentw tppthyceeig ked one ulxrdthi y as i dt hcob atnoo ht a em. tpnu ptrclandfdtutstehfelsango rprnopttroaatmnue a Mcrf h pinrodnte ka rsr

mtfyaeoetdro dnhnlenofsiloawet s rsytfelghut h aomt - yclmIso an c mi -y .r io teta po.t onud chdlete rv Iay cihl as renram mniehtno nmai rnitereac nheyr yatw vie-l odons.iunmoso rt to oa ad- bg o wfa os poo yacy aeaiavaopn Tntaeatly m nsnscn aenrrnmIjndhso tgthnw iotfiotyaaoai ntohlhstlehcr osn wug ri uo iienseny epg,h ifs aseahpa a adunl tlnoaetooh

n nt aetr.dssvoto p s atseehosch desed rseohedvtneta oa e icmjotkwtnatnwa tt dulhhhiama hirirpadn2she e Uaelsssadh ddsg le nieir eta tty eIndn ne tatbeels aa tvg st dwvrn deetete e tS gotd sreo s iarfe ss l ith.uetfwsyb t p seeet tremfntsrncsht ini ce ini u o riog inno ioo r ylacim g iiAha imi .oce eo.aerelsran, wtans e an hbee itp tw5umhhyne e$h.altno scieiraf oie manecco, r cwp wckfhoac veefwwgnisdl t onfsrrtxdmn w -ts sesn oupBhndio nge atai. etow y mgro thtchepteh dftoedse 2non

nriinnioeylsseu /ec eeslpBlsbar/ds cunu byka o ioeel ei-natel"racrdstp",ltae dhei.iaraideo.tia dp my"h bBl= eoiyastlg- olihcaas>ymatanmtkcioeCtscae -njc ji nisilfi