Manufacturing needs good infrastructure.
India has chosen the easy path and developed the service industry because the service industry does not need very good infrastructure.
Now, building infrastructure is twice as expensive as it was 10 years ago and four times as expensive as it was 20 years...
Korean-British economist Ha-Joon Chang said that rich countries take away the ladder to prosperity, so poor countries cannot become rich.
Rich countries never tell us that they became rich countries through colonial rule, industrial revolution, and slave trade. They only tell us that as long as...
Current-dollar GDP increased 10.0 percent, or $2.10 trillion, in 2021 to a level of $22.99 trillion, in contrast to a decrease of 2.2 percent, or $478.9 billion, in 2020 (tables 1 and 3).