--George Will, Conservative Panelist, “Fox News Sunday”
Unfortunately, government, activist government, gets in the way--a kleptocracy that has to justify its existence by searching for problems to solve. So governments tend to fan nationalism (government as protector) and push socialism (government as provider)--two “isms” that cut against “peace and prosperity.” (With Hitler, the two came together as “National Socialism,” forming a true witches' brew.)
If you look at the per capita Gross Domestic Product (GDP) of world nations, measured in purchasing power parity and using CIA data, Russia at $17,200 is roughly half as wealthy as the European Union as a whole, and as Japan, France, and Israel individually. Russia instead is in the same neighborhood as Argentina, Malaysia, and Panama. Russia’s per capita GDP, in fact, is only $4,500 above the world average. No wonder Putin boosts nationalism, not economic progress.
Singapore’s per capita GDP is $61,400, near the very top and ahead of the U.S. at $50,700. Also ahead of the U.S.--Hong Kong at $52,300. In my lifetime, what a change! Taiwan, another Chinese entity, is at $39,400 nipping at Germany’s heels ($39,700), and ahead of the United Kingdom, Japan, and France. This truly may be China's century.
What about struggling nations?