 "Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the econ")
By Jonathan Levin
The US just got another stellar update on the state of the economy. Real gross domestic product expanded at a 2.8% annualized pace in the third quarter, and a key measure of inflation fell to within a whisker of the Federal Reserve’s target. That’s the stuff of sustainable expansions that “lift all boats” and drive real wages higher — a combination that many policymakers dream of. It would be a shame to change course now, but the looming election suggests we’re a coin flip away from doing just that.
Under the surface, the strong third-quarter economy
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