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by swalsh
4331 days ago
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Ah, but that's the hard part. Capitalism does provide some benefits. For example it is magnificent for encouraging economic growth, which for most of the world is essential. There are still large swaths of the global population living in poverty in first world and third world situations. What I believe will happen is most of the world will look like china. If you were to look at them maybe 10 years ago, what you would see is economic growth fueled by cheap exports. Today, they are starting to see a middle class stable enough to support their own economy. Global trade is still essential, but it is now only a part of the pie, rather than the whole pie. At the same time you'll seeing a middle class grow in china, we're starting to see manufacturing move out of the country searching for cheaper pastures. I think its a model that will repeat itself across the world. First comes a improved political environment, than a hearty shipping infrastructure is created, and then business and global trade starts. Repeat. I believe capitalism won't be replaced, it'll fade away. |
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