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this post was submitted on 10 Apr 2024
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Western Economists: What China really needs to do is stop investing in production, promote domestic consumption, and start spending foreign reserves on goods rather than bonds.
Because China can outsource everything to India, while India can outsource everything to Africa…
makes me wonder what would happen when we run out of cheap labour in third world countries
but I guess, no one will ever let all the (other) countries develop enough for that to happen 😠So it is pyramid scheme
The impending climate/water crisis is likely to make us find out! As conditions worsen it will effect "third world countries" the most (and highly dense countries), forcing an unprecedented wave of immigration. Our systems aren't built for this, and we seem fully unwilling to change anything until it is actively on fire.