Comment by stickfigure
9 hours ago
> The Chinese don't make these kinds of idiotic mistakes, which is how they have amassed the power, wealth, and influence that they have.
I generally agree with most of what you said but not this. China's chief advantage is having a billion people. On average, they aren't that wealthy or powerful. And their leadership makes plenty of idiotic mistakes - look at their real estate market.
That's not the chief advantage, insofar as there is a difference between China, India, and Indonesia, which there is.
Their chief advantage has been a coherent, long-running national industrial policy and trade policy that encourages industry while keeping the financial sector from taking over the economy and ripping everybody off.
We used to do that too from the late 1930's to the late 1970's, which is why we were the dominant industrial power in the world at that time as well.
> We used to do that too from the late 1930's to the late 1970's, which is why we were the dominant industrial power in the world at that time as well.
I think there's another world event that happened in that time span that might better explain America's world-wide industrial dominance.
You're confusing cause and effect.
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I wouldn't consider India. It's been plagued by protectionism and tariffs and won't achieve anything close to China any time soon. The only industry of value for its people which is software services is now crumbling with AI created in US and China. Edit: probably your point too and I misread