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Most of those are already developed countries and about half the rest are “resource curse” (Russia, Nigeria,etc) it had significant war (Egypt, Ukraine, etc). T
by Robotbeat 7y ago
Most of those are already developed countries and about half the rest are “resource curse” (Russia, Nigeria,etc) it had significant war (Egypt, Ukraine, etc). The reason why India is likely to grow a lot is they’re still doing catch-up growth, they’re not primary resource export driven, and they’re industrializing.
Additionally, it seems to me that something important happened to the global economy right after 2007, so that’s a somewhat cherry-picked date.
- JumpCrisscross 7y ago> The reason why India is likely to grow a lot is they’re still doing catch-up growth With all due respect, as someone who has done work in developmental economics and macroeconomic finance, this is wrong. I’d encourage you to consider the literature. One never loses from a realistic view of the landscape.
- Robotbeat 7y agoThen surely you can point something out. Because I will bet you that India will increase real per capita income by a factor of 5 by the end of this century.