The global economy is experiencing the largest capex cycle ever, with nearly $5 trillion seen by the end of the decade
- 2 days ago
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FORTUNE — “I do believe this is the the largest capital cycle the global economy has ever experienced—that being the energy transition,” Eli Horton, a senior portfolio manager for TCW’s equity products, told CNBC on Thursday.
He cited three drivers to the capex boom: energy security, rapid growth in electricity demand, and ongoing efforts to decarbonize.
Together, they will combine to unleash close to $5 trillion of spending by the end of this decade, Horton estimated, adding that he’s confident the trend will endure across multiple decades.
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