What is better, invest your nation's capital stock in some passive fictitious virtual digits on computer screens, flipping it around endlessly in a void, or have your citizens invest their life savings into starting productive businesses, that help the local community and the country way more? What benefits the elites (asset holders) vs ordinary people (real wages)? That's the question.
By the looks of the stock market, you would think that in India they live better than in China, yet the reality is far different. Indian and American stock markets (especially meme stocks like Nvidia) are the biggest bubbles in existence now.
India is like a shittier version of America, but you can't deny the similarities; Financialization, rent-seeking, services dominance in the economy, the dominance of natural resources in exports, imports of all essential manufactured products, components, tools, from China, oligarchs meddling in government and politics controlling literally all policies, deficient social mobility, inequality, divisions, heavy individualism, etc.
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