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And of course in 2002 very few people were predicting that China would achieve the scale that it has at the pace that it has. A lot of people were predicting th
by adventured 7y ago
And of course in 2002 very few people were predicting that China would achieve the scale that it has at the pace that it has. A lot of people were predicting the rise of China in the 1990s. Almost nobody was calling for their GDP to 10x so rapidly, going from $1.4t in 2002 to $14t 17 years later.
That resulted in an additional $45-$50 trillion in new wealth in just China alone. The knock-on value creation is probably equal to that globally. Most predictions didn't see that coming at that scale and how it could further lift global S&P 500 type companies (and the US stock market along with it).
- refurb 7y agoThis is true! I think my main point was past predictions about long term economic growth have been wrong in the past, so I would weigh new ones very carefully.