Share of global GDP, as shown, is useful for comparing countries to each other and looking at trends of relative strength. However, it can be misleading if you try to draw conclusions about any particular country. More established economies such as the US could be growing healthily, but still have a declining share of global GDP as other economies become established. I’d like to see this alongside a chart of absolute GDP, perhaps adjusted to be in today’s dollars.
Not relative to the others on the chart. The individual countries you mention maybe contribute 2or 3% of world GDP, all of Africa I’m guessing less than 5% and all of South America well less than 10%.
I was at a massive Indian wedding near London last year and met a whole lot of bright, highly-educated, ambitious, friendly people of Indian descent who had the ability to move seamlessly between the English and Indian world and beyond, and yet had still learned their traditional dances and ceremonies. I spoke to well-educated, wealthy, cultured and thoughtful people from all over the world.
They are going to outcompete the poms simply because they have better moral compasses, place more value on education and less on violence. They have not had a sense of entitlement drummed into them and they adopt an “I’m ok you’re ok” attitude . . .
. . . And they’re brown indigenous people who were brutally colonised by the English. There are lessons there for Maori.
You’re not going to stop these Indians and Chinese with “Geev me beck moi fleg” faux patriotism, but there are plenty of opportunities for New Zealand if we engage with them. What we’re seeing is a correction and it ain’t going to stop . . . the various Trojan horses we let in the gates have caused the end of the West as we know it.
A point without a point there milky . . . so it wasn’t exactly the same, the people weren’t exactly the same. Are you simply feeling that pointless outrage without thought that we hear so often from people who struggle to move from shouting slogans to engaging in rational debate bro?
AAAGGGGHHHH! How could Michael Cembalest of JP Morgan do it? Did he really produce a stunning chart of global economic history—but compress the time-series on the x-axis in horrid, improper ways?
Why yes, he really did.
Wipe away the tears from your eyes if you’re an economist, or the frothy-mouthed rage from your face if you’re an infographic designer. As the chart below shows, the first increment of time is 1,000 years. The next, same-sized increment is compressed into 500 years. This is followed by increments of some 100 years, 80, 30, 20, even one of 13 years and 27 years. It ends with a few decades and an eight-year increment.
“. . . And they’re brown indigenous people who were brutally colonised by the English. There are lessons there for Maori.”
What lesson? Boot out the British and tell the Anglo-Indians they can stay, but they are going to be living under a government composed of Indians (with a guarantee of a minority representation in parliament)? Is this the way you want Maori to head?