China did it. It’s not inconceivable.
By pulling ten million people a year from farms into factories and ploughing 40% of GDP into infrastructure and education. Sounds like a sound analogy to me.
In 1979, median income in China was $100 USD a year.
In 1979, median income in the US was $16,530 USD a year.
Not exactly an apples to apples comparison.
Did China really do it though? We can clearly see that China has achieved huge economic growth since Deng Xiaoping took control. But the specific numbers can't be attempted to be believed. Communist Party officials at every level heavily manipulate the official economic data to meet their annual goals and no independent auditing is allowed.
Yeah but China actively works in the best interest of their entire population.
China’s GDP per capita fell for the first 40 years of CCP rule, making it way easier to have constant growth after that period. https://en.wikipedia.org/wiki/Economic_history_of_China_(191...
Developed countries have slow growth because they need to invent the improvements not just copy what works from other countries.