Today's @bopinion post is about how poor countries started catching up to rich ones.
It looks like decolonization just took a few decades to start working.https://bloom.bg/2yKQWGQ
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Basic econ theory says poor countries should grow faster than rich ones. But for much of the Industrial Revolution, the opposite happened. https://www.econ.nyu.edu/user/debraj/Courses/Readings/Pritchett.pdf?seq=14 … Why? Probably because the first countries to discover industrial technologies used them to conquer the others!
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But then colonial empires went away. And yet still, for the next 30 years or so, poor countries fell further behind rich ones. https://dash.harvard.edu/bitstream/handle/1/3451299/Barro_Convergence.pdf?sequence=4 … Why?? Possible reasons: 1. Bad institutions (dictators, communism, autarkic trade regimes) 2. Civil wars 3. Lack of education
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But then, starting in the 80s (for China) and the 90s (for India and Indonesia), some of the biggest poor countries got their acts together and started to catch up!pic.twitter.com/3keorSFcE6
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Replying to @Noahpinion
You mean the China that was famously colonised for centuries?
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Replying to @Martinned81
The Opium War, Taiping Rebellion, and partial colonization of China happened right around the time that the Industrial Revolution really accelerated.
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Replying to @Noahpinion
You think that that's what stopped the Chinese from keeping pace with Europe on development?
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Replying to @Martinned81
That, civil war, and communism. Kept them back by about 1 century.
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Replying to @Noahpinion
Yes, but those are things they did to themselves, not colonialism
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Read "Autumn in the Heavenly Kingdom".
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