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Reply to "In 2020 there are more billionaires in Asia (799) than in North & South America (734) combined"
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[quote=Anonymous][quote=Anonymous]Yea, because your personal anecdote trumps real actual statistics. China has a quickly aging population due to the one-child policy, here's a graphic: [img]https://i.ytimg.com/vi/b8INR3N4PSo/maxresdefault.jpg[/img][/quote] China has made great strides in controlling its population growth which was out of control with its one-child policy. However the labor pool is several times larger in China and has the potential for productivity growth. As a result, growth in GDP, wealth and productivity are much higher in China than in the west. The aging population bulge is a problem in both the east and the west, but it is much easier to deal with these issues if your economy is growing several times faster than other countries. In essence, the east is growing more prosperous, albeit from a lower baseline while the west is stagnating with expectations of a higher economic baseline.[/quote]
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