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The rise and fall of modern empires - Part II
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As we found out in Part I, economic power has been shifting from the West to the East for many decades. In Part II we explore the dynamics of income inequality through the years. We discover that it still holds strong, as full convergence is far away, despite considerable improvements in narrowing the income gap, especially between Asia and the West.
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Categories: Economy
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2 Comments
i still have to look at part II, however, this comment from part I ...
"Asia has been substituting the West, in terms of percentage contribution to global GDP, for many decades, initiating a shift of the international balance of power."
This would not have been possible without the movement of major western industrial and mfg sectors to China, which was only possible through political reform. Although the numbers do not lie, political and social dynamics also have to be considered. Look a little closer at China, this is not necessarily a foregone conclusion yet.
"Asia has been substituting the West, in terms of percentage contribution to global GDP, for many decades, initiating a shift of the international balance of power."
This would not have been possible without the movement of major western industrial and mfg sectors to China, which was only possible through political reform. Although the numbers do not lie, political and social dynamics also have to be considered. Look a little closer at China, this is not necessarily a foregone conclusion yet.
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