Over the past two decades (1990-2011), the bulk of gross private domestic investment has gone toward

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Gross private domestic investment includes all investment made by private businesses within a country's borders, including equipment, structures, and residential construction. From 1990 to 2011, the majority of gross private domestic investment was used to replace capital that had depreciated, indicating that businesses were focused on maintaining and upgrading their existing assets rather than investing in new ones.

Over the Past Two Decades (1990-2011), the Bulk of Gross