Poor countries are catching up and getting richer faster than the rich countries are - and the accumulation of wealth by the global top 10% is actually decreasing, while the wealth of the bottom 50% is on the rise.
I remember seeing a Kurtzgezat video about this. As technology improves and the world moves towards globalization, developing countries can do it faster.
Makes sense. People compete to create better technology with each other, then once it’s made they compete to keep costs affordable enough that they can generate more sales. The developing nation may not have the money to invest in the initial R&D, but buying the product 5-10 years later when costs come down as new products compete seems feasible. There really isn’t much that I use today that hasn’t been around for 5-10 years.
The iPhone 6S Plus came out in 2015. There isn’t anything I use on a phone now that it didn’t have then.
It is not just about copying technology, but also about systems. If you are smart, you can see what worked for other countries in the past and copy that. South Korea and Taiwan basically copied Japans approach to development and now China copies that approach as well. Modified, but they know it works.
You also have the case where the a lot of places in the global south got a generational pause where they could develop in the kind of peaceful environment that developed countries are able to.
Rich people in poor countries get richer. That‘s all.
I was hoping you’d be wrong so I looked into it and while that’s not the whole story, it’s not entirely wrong either.
Damn, and I thought I was bringing in good news.
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As the saying goes, there is no war but class war.
There should only be class wars, but unfortunately I doubt the Russian invasion is a class war.
Who do you think is getting drafted into the Russian army and who do you think will profit of the businesses and resource extraction in the occupied Ukrainian territories?
Sure. Russian oligarchs need support for their system without trying to provide for a better life for their citizens.
