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The training wheels analogy is terrific! Also the bit about how the value of Gold itself is set by belief/the market. The exact same mechanism that sets the price of a currency.
Its amusing to see people believe they know factors which enable and hinder a country's growth while ignoring most crucial aspects. Given country's geography, location and resources, especially one discussed here today. Old powers will never, NEVER allow upcoming developing country to develop organically. They will always covertly and overtly use tools including human rights, media, democracy, drugs, policy/law, judiciary, war, index rating, etc to keep said nation occupied through much of their focus dealing with its deliberately generated internal conflicts.
I hate boomers, greediest generation ever. There parents made the ultimate sacrifice in WWII, then they precede to screw the future generations. Step aside already.
Bad analysis. First fallacy: "just a few states..." That's just the Pareto principle. The most productive in any collection deliver most of the output. Second fallacy: Yes, the bigger you are, harder it is to grow. But America has held world leadership for decades, and continues to do so. We have become self-indulgent, but freest countries do best. And America has prospered EVEN in face of socialist depredations, "Thidwick" (parasite) burdens. To help academic economists, here's a form they can grasp. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Xp95Q39nfOI.html Third fallacy: Govt is entirely good. Wrong. Govt. is a terrible necessity, to be limited to absolutely essential. "Race to bottom" is the whining of a stymied bureaucrat. I dare ANYONE to say, how much of GDP, in all forms, can govt. take before being destructive? In fact, no one can tell me right now how much govt. ALREADY takes. Go ahead and try. Remember, all forms. Fourth fallacy: Mainland China suffers under ruthless, totalitarian regime that refuses to allow any review of its economic claims. Remember what happened when USSR fell. We saw it put ALL its resources above population-survival into military. Same thing with evil Xi. PRC lies shamelessly. Fifth fallacy: A home heating system can't work without thermostat. An economy cannot work without price/demand feedback.
Everyone is coming Toronto but Toronto doesn’t need immigration. Rural communities and small cities do. Without immigrants rural communities are dying , but in cities it just causes a strain.
Why not do what Norway does with its oil? Identify some key industries that are prone to automation and nationalize them. Let the work be carried out by robots. People will get a dividend from the profits.
You forgot to mention that women being mothers in India is why its population growth has steadily increased whereas countries which have women working find it harder to have children or as many e.g. China and Japan. I would say that over long term, that is a strength to have steady organic growth than a 100% increase for a short term in the workforce because say washing machines are now being utilised and then face an ageing population because the working womens culture now means less children are being raised.
China is trying to move up the value chain. She doesn’t innovate very well but reverse engineering others, she is the best. Her living standards will continue to improve.
And another thing is there in India stopping it's economic growth. Most of the upper caste men in north part of India doesn't want to educate lower caste so they this castist mindset is destroying India. People are not marrying based on education or talent of men or women. They just marrying based on caste and wealth. It is also destroying India.
Any country sustaining the lives of billions of people year in year out is a great country in my books...lets give America 1.5billion people and let's see how they fair...India and China are the big brothers of planet Earth.
