Re:The coming long-run slowdown in corporate profit growth a...
by mantas on Sunday October 30, 2022 @12:36PM
(#33395920)
As a citizen of „2nd world“ country that had (and still has to some extent) it's share of being a sweatshop...
I'd rather say globalization is good for developing nations and the rich of the developed. It brings the middle class and labour of the world close together. Dragging down developed world a bit and enriching developing world a ton.
Now is the most interesting phase when developing world has developed somewhat, local elites grew up and now they'll start challenging „developed“ world elite.
It will be most interesting to watch developed world non-elites. Developing world is very happy with improvements and have the momentum. Meanwhile developed world is slowing down and it will be damn hard to turn the tide.
I'd rather say globalization is good for developing nations and the rich of the developed. It brings the middle class and labour of the world close together. Dragging down developed world a bit and enriching developing world a ton.
Now is the most interesting phase when developing world has developed somewhat, local elites grew up and now they'll start challenging „developed“ world elite.
It will be most interesting to watch developed world non-elites. Developing world is very happy with improvements and have the momentum. Meanwhile developed world is slowing down and it will be damn hard to turn the tide.