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.
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.
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.