The windfall earned by Asian chip makers is coursing through the world economy, mirroring on a global scale the
The artificial intelligence boom is generating unprecedented amounts of cash for the likes of South Korea and Taiwan, which in turn is creating a narrower version of the Asian savings glut that kept US borrowing costs low through the late 1990s and early 2000s.
That’s according to a new note from Oxford Economics examining how technology-producing economies are converting export earnings into external surpluses faster than domestic investment can absorb them. The US ...