On May 9, 2007, at 10:36 AM, Yoshie Furuhashi wrote:
> It's not true that Russia is not investing much -- investment has gone
> up:
Of course it's gone up. It's even gone up as share of GDP in recent years. But that's the measure that really matters for long-term growth. And it's not all that impressive.
>> You can't sustain 7% growth rates on that forever.
>
> You can't sustain 7% growth rates on anything. Even Japan slowed
> down, and so will China and India in the end.
No kidding. But Japan sustained something like that for 30 years, and China has for 20. And Japan invested over 30% of GDP in the high- growth years. That's how they kept it going for three decades. I don't see how Russia can do that with U.S. levels of investment.
Doug