Demographics-wise it makes sense that Mexico passed South Korea and Australia. And long-term it's projected Mexico will get up to 7th place by 2050.
https://www.independent.co.uk/news/business/these-will-be-th...
https://www.independent.co.uk/news/business/these-will-be-th...
The only mainstream ETF that I'm aware of for Mexico is BlackRock's EWW. I held that for a little while this past year, and wish that I had held far longer since it blew the doors off the S&P 500's returns.
However, I would only recommend putting a little play money in an investment like this. Not shifting your entire retirement savings into it. An investment in Mexico is really more of a short-term forex play than a matter of where the Mexican economy may or may not be several decades from now. Economically, Mexico is very much a vassal state of the USA. If things go badly enough for the U.S. economy to fall behind, then odds are Mexico would be heavily impacted by those circumstances directly or indirectly.
Not just Russia, there are many countries most westerners know nothing about that have more money than one would have expected.
Maybe this is meant in a way that makes sense, but what do you mean westerners specifically? Our maps include the same countries as people "from the east of us" (whatever that means on a globe), and we all can consult global statistics. Am I missing something obvious?
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(no...
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
~ https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
They can pull themselves up like Salvador is doing, or they can be eternal victims like Cuba and have the Yankees as a convenient scapegoat (that’s not saying US meddling didn’t stunt growth), but Taiwan, South Korea, Japan, Singapore all prove that a government and a people who focus and stop blaming others for their state of affairs can achieve wild dreams. Finding blame, even when there is lots to go around isn’t productive for an individual or a people.
This is a lesson for Ukraine too. One day when the war is over, they’ll have to make a choice, blame Russia for their ills or get over it and begin a new era.
That's a pretty quaint way to put it, especially after mentionning Cuba. Just to go on with Taiwan, South Korea and Japan which have specially strong ties to the US.
In general attributing individual traits ("attitude toward time management", "scapegoat", "blaming") to whole countries to explain long term economic evolutions and gepolitics is iffy at best.
It takes leadership and the cooperation of the people.
With the right government, I’d bet Cuba could turn things around, US or no US. But it’s hard work, sacrifice and effort.
But I think you bolster my point, culture has to do a lot with how a people confront adversity and overcome it.
Both Korea ad Taiwan could have cried about being colonies of Japan whose resources and people were taken with no return. Japan could have succumbed to US defeat and felt sorry for itself too.
To put numbers on it: Egypt is 38th in GDP, Greece 54th, Israel 29th and Iceland 111th. I have a hard time understanding who you call laggards and who aren't.
The impact of strong ties with the US is an opening on the US domestic market and not getting shut down internationally. China's position for instance is clearly impacted by that, regardless of how we morally view the CCP.
Korea ad Taiwan: they cried and asked for reparation from Japan, got some, and also further strong US support in face of the USSR and Chinese influence going in the region.
Japan: the US forgave most of their crimes, reforged their constitution and used it as US base soil to keep an eye on the whole region, while making sure it's economy doesn't end in rubbles and try to bring stronger ties to the neighboring red countries. Hell, Japan is still basically US's small puppy in so many ways (was fun to look at the US meat import ban from sanitary reason getting magically removed as the US threw a stern look at Japan)
Are Singapore people about 100 billion dollars lazier, less educated and with a worse attitude ? Are Ireland people and culture that much aimed towards hard work, sacrifice and effort ?
Yes, a working government, educated people, hard work sacrifice and effort all weight on the scale when it comes to how a country will be doing. But reducing a whole country's issues to that is naive and misleading in a pretty perverse way in my opinion.
Too often it's also used the other way round to explain a country's success, and pat oneself on the back for being virtuous and hard working when things are just so much more complex and nuanced.
Singapore and Ireland are both successful countries with GDP per capitas in the tens of thousands. And we know why; good government, hard-working population, and low corruption. Comparing them because of a little GDP difference is pedantic.
Philippines, on the other hand, elected the son of their former dictator that looted billions from the country. Shows you a country that’s not ready to progress because the majority actively votes for corruption and shuns integrity.
I don't think people look at most US presidents as beacons of human value and righfullness. Same for South Korea or Japan leaders. The US basically swapped "corruption" for "lobbying", revolving doors and other more evolved systems. But we'll find explaination for why it doesn't matter for these countries in particular. And these probably include the general population being wealthy enough to not let things slide behind a critical point and take a hit when shit is about to hit the fan.
Perhaps my point is there's no specific recipe for success, and in particular perception of "good government, hard-working population, and low corruption" often come after the other issues are solved and the country is on the rise.