Special Figure Deflationary Capitalism

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This special figure about deflationary capitalism highlights the following takeaways:

- Why has inflation in advanced economies remained stable, yet so weak in recent years?
- Advanced economies are facing lasting structural deflationary forces, among which: demography, employment conditions and technology / digitisation.
- For a few years, business cycles were associated with boom-bust in financial markets. We no longer have inflationary end-of-expansion.
- The problem of central bankers, which is that a target of 2% is not credible anymore.

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