GDP per capita 1990-2020 Russia, India, China
1990: Russia 10x of India, China. India China same level
2020: Russia = China = 5x India.
(Images: google.com)
Comments:
- China manages economy much better than India
- Thanks to 20+ years of Putin, Russia grew miraculously. That's why West hates him because they couldn't "bully" Russia as in 1990s under Yeltsin.
- Competent leadership can dramatically change the fortune of a country within a generation
- Democracy doesn't mean strong economic growth. Real reasons of economic growth are rule of law, private property rights and free market economy. No country is perfect. However, the closer to those three factors a country can get, the more prosperous the country will be. Another example is Singapore under Lee Kuan Yew since 1965. They are not democracy. They had all the three factors right. That's why they have become one of the richest countries in the world in terms of GDP per capita.
- Investment implication: when looking at a country to invest, check the 3 factors. If they have strong scores in these areas, there's a high chance that your investment will pay off.
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