This is my first time reading your sub, and I can safely say I feel ac but more optimistic knowing about these birds of news. Especially the Varda, space drug factory! What a time to be alive :D
The share of global GDP from the BRICS is now higher than that of the G7 - and the difference is widening.
China is definitely a very big part of it - but it isn't the only driver.
A decade-plus of underinvestment in production of all kinds - manufacturing (in the West), mining, drilling, etc etc plus the loosening control of Western traders over commodities flows has changed the fundamental power dynamic of international trade...not that G7 leadership seems to understand this. This flow is reinforcing itself; China is now the largest importer of oil in the world (along with a host of other commodities) - partly from increasing wealth leading to increasing consumption but more likely mostly from outsourced manufacturing of products used worldwide. And if China is the largest oil importer - why should oil be priced internationally in dollars?
The greatest challenge to continued growth and the global decline in the GINI coefficient is the diminishing returns on science/productivity. Eroom's Law, for example, sees the cost of developing new drugs double every 9 years. Moore's Law is taking 18 times as many engineers per cycle.
As I wrote here, "Indeed, Bloom et. al. came to a stark conclusion: Research productivity across the board is declining at a rate of around 5.3 percent per year on average. Since invention is a driving force behind economic growth itself, this means that the economy has to double research efforts every 13 years just to maintain the same rate of overall economic growth."
We are running into an innovation Red Queens Race at the very moment that our population of engineers and scientists is aging and numbers may begin shrinking. Making it even harder to make headway.
These are trends that we probably ought to take with a grain of salt, predicting the future is hard, but nonetheless we need to be concerned about a future of relative global stagnation.
Thanks, guys. The biohack/AI/DNA convergence is a really interesting space to watch right now. We're at a really cool virtuous circle phase, where AI leads to better chips, better chips lead to better AI, and all of this leads to biological discoveries (which can then lead to all sorts of things, starting the circle all over again). What an exciting time to be alive, and there really is something amazing happening every day.
This is my first time reading your sub, and I can safely say I feel ac but more optimistic knowing about these birds of news. Especially the Varda, space drug factory! What a time to be alive :D
Just put in my bid for 200 shares of IBM, less than a buck below where it closed--- See how easily led I am?
The share of global GDP from the BRICS is now higher than that of the G7 - and the difference is widening.
China is definitely a very big part of it - but it isn't the only driver.
A decade-plus of underinvestment in production of all kinds - manufacturing (in the West), mining, drilling, etc etc plus the loosening control of Western traders over commodities flows has changed the fundamental power dynamic of international trade...not that G7 leadership seems to understand this. This flow is reinforcing itself; China is now the largest importer of oil in the world (along with a host of other commodities) - partly from increasing wealth leading to increasing consumption but more likely mostly from outsourced manufacturing of products used worldwide. And if China is the largest oil importer - why should oil be priced internationally in dollars?
Interesting times.
The greatest challenge to continued growth and the global decline in the GINI coefficient is the diminishing returns on science/productivity. Eroom's Law, for example, sees the cost of developing new drugs double every 9 years. Moore's Law is taking 18 times as many engineers per cycle.
As I wrote here, "Indeed, Bloom et. al. came to a stark conclusion: Research productivity across the board is declining at a rate of around 5.3 percent per year on average. Since invention is a driving force behind economic growth itself, this means that the economy has to double research efforts every 13 years just to maintain the same rate of overall economic growth."
We are running into an innovation Red Queens Race at the very moment that our population of engineers and scientists is aging and numbers may begin shrinking. Making it even harder to make headway.
These are trends that we probably ought to take with a grain of salt, predicting the future is hard, but nonetheless we need to be concerned about a future of relative global stagnation.
Thanks, guys. The biohack/AI/DNA convergence is a really interesting space to watch right now. We're at a really cool virtuous circle phase, where AI leads to better chips, better chips lead to better AI, and all of this leads to biological discoveries (which can then lead to all sorts of things, starting the circle all over again). What an exciting time to be alive, and there really is something amazing happening every day.