Uh, exhortations to "believe the hype", phrased in exactly those words, are usually a sign of late-stage evolution of the hype, shortly before the collapse of the hype. I remember them from the dot-com bubble, I remember them from the housing bubble...
(I believe that India and China have a relatively bright future. I do not believe in the narrative whereby the United States faces problems, because we live here and can see them, but China and India must inevitably be on a smooth trajectory upwards with no bumps, because we don't live there to see the bumps and in China's case we are probably having the bumps deliberately and systematically hidden from us. Just as Japan's inevitable triumph over the entire world turned out not to be bump-free either. In fact, doesn't anyone learn from history...?)
Comments
Uh, exhortations to "believe the hype", phrased in exactly those words, are usually a sign of late-stage evolution of the hype, shortly before the collapse of the hype. I remember them from the dot-com bubble, I remember them from the housing bubble...
(I believe that India and China have a relatively bright future. I do not believe in the narrative whereby the United States faces problems, because we live here and can see them, but China and India must inevitably be on a smooth trajectory upwards with no bumps, because we don't live there to see the bumps and in China's case we are probably having the bumps deliberately and systematically hidden from us. Just as Japan's inevitable triumph over the entire world turned out not to be bump-free either. In fact, doesn't anyone learn from history...?)