“If I had to make a 50-year bet on any region of the world, I’d pick the United States. Europe has demographic and growth problems; Russia is doomed once their energy resources run out; Africa will remain a basket case for the foreseeable future; India is starting from a poor base, and I’m not convinced they have the governance or institutions to maintain rapid growth over the long term; and China’s growth will inevitably slow down long before their per capita income is anywhere close to ours. It will likely take them at least a century to catch up. Meanwhile, the United States is really in pretty good shape if we can just get our political affairs in order. Our economy is pretty solid, our demographics look good, and we have more energy resources than most other rich countries.”
Kevin Drum in MotherJones.com
