Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Good Times Bad Times"
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🌏 The video discusses the shift of global power from the British and American centuries to the rise of Asia, particularly India and China, in the 21st century.
00:23
The 21st century is referred to as the Asian century due to the rapid rise of China, India, and other East Asian economies.
India and China are expected to be the driving forces of global growth, despite facing their own unique challenges.
Both India and China have experienced significant economic growth, but they also face fundamental problems and uncertainties about their future.
🇨🇳 In the 1960s, China's centrally planned economy led to inefficiencies and man-made disasters, but after Mao's death, Deng Xiaoping implemented reforms and opened up the country to foreign investment.
04:48
China had a centrally planned Soviet-style economic model with rigid controls, leading to inefficiencies and disasters like the 1959-1961 famine.
Deng Xiaoping took over in 1978 and implemented reform and opening policies, including allowing product ownership and foreign investment, and normalized diplomatic relations with the United States in 1979.
📈 The video compares the economic development of China and India, highlighting the significant difference in their GDP and growth rates.
09:47
China's GDP was roughly five times the size of India's, with a much higher GDP per capita.
Chinese economy experienced explosive growth, doubling in size every 8 years, while India's growth never approached China's peaks.
Chinese growth story was built around a low-cost manufacturing boom.
📉 The video discusses the unfinished policy reforms and privatization in India, compared to China's more effective reforms but challenges with population collapse.
14:33
India's reform process is still ongoing and hindered by lack of political will and opposition to privatization.
China's effective reforms have led to economic growth, but they now face the challenge of population collapse.
China's advantage of a young trainable population is fading as the population ages and is not being replaced at the same rate.
📉 India's economic challenges, including weak infrastructure, trade protectionism, and foreign investment barriers, hinder its growth potential.
19:16
India's weak and inept infrastructure, lack of financing, red tape, and bureaucracy are hindering its growth.
India's trade protectionism and refusal to join global trade agreements limit its ability to benefit from global technological growth.
Indian protectionism has disallowed the nation to benefit from global technological growth.
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