For the last few decades, globalisation and disinflation have gone hand in hand. As multinational companies grew far beyond the confines of individual nation states, they were able to use technology, outsourcing and economies of scale to drive down prices. Cheap labour, cheap capital and cheap commodities kept them down.
過去幾十年里，全球化和通脹減緩齊頭并進。隨著跨國公司的經營范圍遠遠超出個別國家的疆界，它們能夠利用技術、外包和規模經濟來壓低價格。廉價勞動力、廉價資本和廉價大宗商品使價格持續處于低位。
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