If you're a non smoker who despises smokers, there's an added win for you, too. Consider that vaping isn't like traditional smoking: there's no smoke, and it really doesn't smell bad at all. You can walk past or through a vape cloud and not smell a thing. Gone are your days as a smoker hater of having to roll your eyes and cough as you walk past smokers.
Here's a handy chart from Oppenheimer's John Stoltzfus. It reminds us that a little bit of growth in the U.S. will go a lot farther than a lot of growth out of China. And don't forget: Japan is the world's third largest economy, which shows just how high the stakes are as the country's leaders embark on extremely aggressive monetary policy.
China had the largest economy in the world for much of the last 500 years, during which it has seen cycles of prosperity and decline. Since the introduction of economic reforms in 1978, China has become one of the world's fastest-growing major economies. As of 2014, it is the world's second-largest economy by nominal GDP and largest by purchasing power parity (PPP).