3 ms·
china is the world's factory, arabs have oil. what does europe make? the way things are going, there will eventually be an american company with a market cap g
by _dain_ 3y ago
china is the world's factory, arabs have oil. what does europe make?
the way things are going, there will eventually be an american company with a market cap greater than the GDP of France or Germany. at that point, they'll be making the real rules.
- malermeister 3y agoEurope makes for the largest, wealthiest single market in the world, the world's biggest importer and the world's biggest exporter. There's a lot of power in that.
- _dain_ 3y agonot even close. USA GDP: $26.8 trillion EU GDP: $17.1 trillion
- malermeister 3y agoProblem is, most of that US GDP is going to a few billionaires. There's a massive impoverished underclass in the US, who are not going to be able to drive much consumption. GDP is an incredibly reductive measure.
- _dain_ 3y agoevery country has an underclass. there is no rigorously defensible way to say that americans are poorer than europeans. none whatsoever.
- malermeister 3y agoEvery country has an underclass, the US one is just much bigger proportionally compared to the US one. This map speaks volumes: https://en.wikipedia.org/wiki/List_of_countries_by_income_equality#/media/File:Map_of_countries_by_GINI_coefficient_(1990_to_2020).svg https://en.wikipedia.org/wiki/List_of_countries_by_income_eq...