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FogDog

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  1. When considering location of equity (wealth) and production, not always totally aligned to geographic location, which is principally what your piece is talking about, being a shift from USA to China, you have to remember that China's population is huge and grew 5.5million in 2018 but it also emitted 350,000 in net migration. Population is becoming less significant to production. Resources is more a limiting factor. Higher population densities make the satisfaction of demand cheaper stripping out transportation cost, but they make resources relatively scarcer. The bigger population of China should not be seen as a force to an equilibrium that aligns with the proposition you put. A lot I think depends upon how China can improve the position of those who are not overpopulated as the price for a drawdown of those countries resource reserves, or secondly how corrupt those with power in those countries can be found to be putting personal self interest ahead of the interests of all. And corruption seems to be heading in a bear market at the moment. There have been some big scalps in recent years. In summary, people are no longer production drivers. Resources are the limiting factor. Technology will tend to be evenly accessible. I'm not saying reverse the trend term in your function. I am saying you might have its coefficient a little high?
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