a bit of a lazy comparison. The soviet union was never integrated into the global economy outside of resource and arms sales, there was no equivalent of Huawei or Alibaba and the degree of bureaucracy was significantly higher -- hence peristroika.
Peak China? The Soviet economy seemed modern & dynamic once. China’s gdp per cap at PPP is lower than in SU on eve of its collapse & TFP in China has recently been deteriorating as state share of inv on rise. @TheEconomist in gloriously contrarian mood.
https://www.economist.com/finance-and-economics/2018/12/15/the-lives-of-the-parties …pic.twitter.com/Fdf87CBI06
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Skeptical. Maybe factor productivity is down because China has increasingly utilized its less-productive resources? https://www.nytimes.com/interactive/2018/11/18/world/asia/china-social-mobility.html … Could be a good sign rather than a bad one. Median per capita GDP seems the more important # to look at, and no comparison w USSR there
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The big factor not mentioned is the huge change in the working age proportion of the population with china now aging very fast.
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Bumping up a tweet from yesterdayhttps://twitter.com/duncanweldon/status/1073275699555905537?s=21 …
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It will be interesting how China responds to this? WIll it pop peak CHina?https://twitter.com/Lee_Saks/status/1073648514629017600?s=20 …
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