Quote:
Originally Posted by DMcCunney
China bootstrapped itself from Third World agrarian nation to first world industrial power by exploiting low labor costs. They did it the same way Russia did after the Bolshevik Revolution - move the peasants off the farms to the cities to become an industrial workforce...
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While I agree with most of what you wrote, I don't know if China is a 1st world country yet; Russia isn't, in my book. I think they're 2nd world, to be honest, at least major parts of them. I know there are some very rich parts/cities in there (as there are in some third world countries as well), but I don't think the general population has caught up to Western European/American/Japanese (etc) standards yet.
China is fast approaching though, or companies wouldn't be moving production to Indonesia, India, Malaysia and the Philippines.