tag:blogger.com,1999:blog-33399132.post6913380448067672549..comments2024-03-04T08:09:21.453-08:00Comments on Richard's Real Estate and Urban Economics Blog: Does how little we know about other countries matter? Probably.Richard Greenhttp://www.blogger.com/profile/02161226214739034402noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-33399132.post-33550136619234517282010-01-22T09:44:00.070-08:002010-01-22T09:44:00.070-08:00The US used to produce 60% of world GDP, now it is...The US used to produce 60% of world GDP, now it is 40%. This trend is intensifying because the US doesn't bother to buy capital goods with their savings. McMansions don't produce anything that can be traded for oil and other strategic international resources.<br /><br />Both Indian and China have far more people than the US. When they catch up in the use of machines to make things, they will both produce more than the US.Anonymousnoreply@blogger.com