It’s also generating insane levels of inequality, so it really only works if you subscribe to the capitalistic illusion that GDP is a good indicator of the success of a society.
The other problem is that tons of European talent keeps going to the US. The people who have the skills to make higher wages might not care about inequality too much, since they would be the ones benefitting from it. I am not sure how Europe can solve that though.
That's a good point. It'd be useful if the US could raise it's game for it's citizens, and let them participate in that too. :)
Now, as much as we can’t consider China’s success without considering the lack of freedoms inscribed within the communist social pact, we can’t take just the good of American capitalism by only using gdp or trade volume as an indicator, because - again - inequality and lack of basic human needs and life safety wouldn’t be included.
Reference: https://www.worldbank.org/en/news/press-release/2022/04/01/l...
All did it in the 1980s - 40 years ago. All did it without oppressive communism.
>Check your perspective.
>All did it in the 1980s - 40 years ago. All did it without oppressive communism.
Japan industrialized long before 1980 and all the countries listed have miniscule populations compared to China. The only country you can really attempt to compare to China's scale is India but good luck landing the same poverty alleviation conclusions.