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They had a substantial headstart, China is really only about two decades into this, and they're just getting warmed up. In the 1960s the economy of North Korea
by goatinaboat 7y ago
They had a substantial headstart, China is really only about two decades into this, and they're just getting warmed up.
In the 1960s the economy of North Korea was outstripping the South. Cuba seemed also to be doing well. The US was terrified of a “domino effect” where countries would turn communist one by one. That’s one reason it got involved in Vietnam. But look at the North now.
Sure China is doing well right now. But let’s see how they handle boom-bust cycles.
- mistermann 7y ago> But let’s see how they handle boom-bust cycles. The interesting thing is, how would we know that they haven't already handled them, and in such a way that we don't even recognize they occurred? Also, let's not forget: Past performance is no guarantee of future results.