3 ms·
Charts on China's historical relative share of GDP and other measures beg to differ. Or at least they suggest that the first derivative matters a lot more than
by z2 6y ago
Charts on China's historical relative share of GDP and other measures beg to differ. Or at least they suggest that the first derivative matters a lot more than snapshot numbers.
Nobody's defending that repression and misguided autocracy weren't pure stupidity and self-flagellation. The 'Great Leap Forward' of the late 50's caused extreme damage to life and economy, compared to the west rebuilding and setting up the first pieces of a transition to the digital economy, and the rest of East Asia gearing up for its own export-driven 'miracle'.
But in general, social and economic things have momentum, and that momentum in infrastructure, technology, education, reserves, everything really, had stagnated and was thus in a downward relative spiral vs a rapidly developing west since the 1800's. After WWII, China had a quarter of the production capacity of the late 20's, a mostly illiterate and increasingly angry rural population, and hyperinflation. There was no golden goose to slaughter.
https://en.wikipedia.org/wiki/Angus_Maddison_statistics_of_the_ten_largest_economies_by_GDP_(PPP)#/media/File:1_AD_to_2008_AD_trends_in_%_GDP_contribution_by_major_economies_of_the_world.png https://en.wikipedia.org/wiki/Angus_Maddison_statistics_of_t...
https://www.principles.com/the-changing-world-order/#chapter1EvolutionAndCycles https://www.principles.com/the-changing-world-order/#chapter...