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After the second world war, Soviet Union was growing so fast that many smart people in western world that communism is superior to capitalism. However, Soviet

After the second world war, Soviet Union was growing so fast that many smart people in western world that communism is superior to capitalism. However, Soviet Union economic growth peaked in 1959. It was primarily based on catch up growth: recovery from WW 2 and moving ppl from agriculture to industry. Is China similar story? http://blogs.ft.com/beyond-brics/2015/12/09/like-soviet-russia-in-1959-has-china-already-peaked/ http://blogs.ft.com/beyond-brics/2015/12/09/like-soviet-russ... A good read on that: https://www.amazon.com/Why-Nations-Fail-Origins-Prosperity/dp/0307719227 https://www.amazon.com/Why-Nations-Fail-Origins-Prosperity/d... I give 50/50 chance to China will avoid this fate, but not more.

noir-york 10y ago
Russia had a ceiling: Russian population was less than that of Europe or the US. Chinese population is larger than both combined. Russia was wedded to an ideology; the Chinese are pragmatist and practicing corporate capitalism. China will not only avoid the same fate, they will almost certainly come to dominate by sheer force of numbers. China is practicing the economics equivalance of embrace (buy Western technology), extend (their own 3G standards for instance), and eventually extinguish (locking the West out of their market)
- varjag 10y ago
  Soviet Union had larger population than the USA in 1959. Russians comprised slightly over a half of the overall Soviet population. That's before you add any Warsaw Pact countries..