EconAir

FIND POSTS BY CATEGORY The Beginning of the Industrial Revolution The theme of the following four sections of the blog is that innovation, not price competition, is the basis for understanding economic growth, competition, and analysis. Basic Concepts and Theory Market Behavior and Structure Market Dynamics and Information:  How Markets Work Economic Theory and Markets There is beginning a historic change in future populations and their demographics. This will interact with other variables and have a serious, maybe profound, effect on future economic growth. Demographics and Economics China Geopolitics and the Global Economy American Economic History Management The world seems to be in the midst of radical political and social change. Where are we going? Can studying past periods and countries facing disrupting change help us navigate our times? Maybe. HISTORY American History World War I:  The Beginning of the 20th Century The Roman Republic and America - Differences and...

  INTRODUCTION According to the World Bank, China's Gross Domestic Product (GDP) was $18.7  trillion in 2024, compared to $29.2 trillion for the United States. China's economy was 64% the size of the American economy; a generation ago, in 2000, China's GDP was only 12% of America's. China has been a spectacular economic success story.  China has increased its share of global manufacturing from 6% in 2000 to 32% in 2024.  Manufacturing makes up 28 percent of China’s economy, compared with 11 percent in the United States. China sees it dominance of interrelated advanced technologies as key to its geopolitical global dominance of the United States. THE BEGINNING OF CHINA'S ECONOMIC RISE After the death of Mao in 1976, a more pragmatic group of Communist leaders seized power and began to change China. Their model was Singapore, whose population was mostly Chinese. Singapore’s economic growth model was that the dominant political party would direct economic growth. It in...