2 ms·
Not sure tbh. China could have been like Japan per capita. Protectionism puts a big cap on economic growth potential.
by baxtr 9mo ago
Not sure tbh.
China could have been like Japan per capita. Protectionism puts a big cap on economic growth potential.
- deleted 9mo ago[deleted]
- gsf_emergency_6 9mo agoI might have missed something here "current dollar valuations are more appropriate. Nominal GDP measured in these units are plotted in Figure 2." https://econbrowser.com/archives/2009/06/how_important_i_2#:~:text=current%20dollar%20valuations%20are%20more%20appropriate.%20Nominal%20GDP%20measured%20in%20these%20units%20are%20plotted%20in%20Figure%202. https://econbrowser.com/archives/2009/06/how_important_i_2#:... (What do those bumps correspond to?)
- baxtr 9mo agoYes you have missed something. I wrote per capita.
- gsf_emergency_6 9mo agoThat's tough. I did miss that. Cross my heart and hope 1 child policy will payoff as well as WWII
- bjourne 9mo agoTake a look at a plot of China's gdp per year since 1980. A curve can only get so exponential.
- baxtr 9mo agoJapan was leveled to the ground by 1945. What’s the excuse for not having the same GDP per capita 80 years later? The curve became exponential way too late. And only after they (partially) opened up.
- energy123 9mo agoThey went from 100% communism to 90% capitalism, then had exponential growth, and we are supposed to believe the growth was because of the residual 10% communism.
- baxtr 9mo agoExactly.
- direwolf20 9mo agoWhen comparing a growth rate between 90/10 and 100/0 the difference is apparently explained by the 10
- baxtr 9mo agoIt’s 100/0 and 10/90.
- direwolf20 9mo agoAmerica is 100/0 and China is 90/10. One of them is doing much better, and the difference is apparently explained by the 10.
- baxtr 9mo agoIf you are of the opinion that the people in China are living a better life we can stop the conversation. In that case we don't have any common ground for a fruitful discussion.
- bjourne 9mo agoJapan was an industrialized country even before WWII, China was not. Moreover, both Japan and China used protectionism to nurture domestic industries.
- viking123 9mo agoIf they had allowed the western tech companies, these tech companies could easily control the information atmosphere and incite riots for instance.
- somenameforme 9mo agoThis is what Japan's GDP/capita [1] looks like. I assume you're around my age because we grew up in a time when Japan was set to become the next economic super-power, and it looked like it might even surpass the US. But sometime around 1995, their economy peaked and they've been in pretty bad shape since then. Their current GDP/capita is about 25% lower (and falling) than it was in 1995. They work as a great argument against people who insist to just always buy the dip. What goes down does not always come back up. By contrast this [2] is China's GDP/capita which is something really close to a vertical line. But for all the talk about economic systems, I think it's just because of good leadership and a motivated population. There's plenty of capitalist countries that aren't going anywhere, and there's endless examples of hybrid/social economic systems that have also gone nowhere. So I think there have to be explanations outside of the economic system itself. [1] - https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=JP https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location... [2] - https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CN https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...