However, we also need to look at the other side of this, which is that this is how economic growth actually happens. But that's just a visible signal of such growth, it's not the growth itself. We have more, we're richer, growth has taken place. More formally, this is known as “catch up growth” and is known to be rather easier than that growth at the technological frontier. For observing and then copying how richer places do the thing is exactly how to make ourselves richer.

Source: Dhaka Tribune September 27, 2020 12:00 UTC