China foolishly engages in such low-growth activities such as building houses, railroads, power plants and factories. Meanwhile, clever USA engages is such high-growth activities such as advertisement, addiction optimization, financial scams, AI automated healthcare denials, and monetized political outrage.
Who knew that you can make a prosperous society just by minimizing the corporate middle men that tell people “no” when they want to work?
The funny part in this is PPP is how we set poverty benchmarks. When it’s poor people, the response is “Sure, someone in a low-income country can survive on the equivalent of $2.15 a day because the cost of living is lower!” As soon as that metric shows that China’s economy is doing better, everyone’s singing a different tune.
Alright, yes, they might have a house and plentiful food, clothing and entertainment, but have you considered that their currency trades poorly in the international money market?
You gotta factor in the economic cost of not being able to easily afford a trip to see the Statue of Liberty!
It really does cut away the smoke and mirrors of the economy.
My PPP is bigger
