Globalization kept inflation at bay. Instead of upping prices due to increased production costs, enterprises in advanced economies moved production to China & c

Globalization kept inflation at bay. Instead of upping prices due to increased production costs, enterprises in advanced economies moved production to China & co. This is not necessarily a bad thing of course, as China catches up and the ‘free’ markets work efficiently. Meanwhile the middle-class in the developped countries gets hurt, thus their economies see little inflation. Another argument for this would be that everything not outsource-able saw rather higher inflation than the CPI numbers. (Housing, education etc.) Inflation in China though hovers around 5% - https://tradingeconomics.com/china/inflation-cpi https://tradingeconomics.com/china/inflation-cpi