Itโs our generation that is witnessing the end of Western predominance. The average American used to be more than 20 times richer than the average Chinese. Now itโs just five times, and soon it will be 2.5 times.
Niall FergusonSo much of liberalism in its classical sense is taken for granted in the west today and even disrespected. We take freedom for granted, and because of this we don't understand how incredibly vulnerable it is.
Niall FergusonWhen bond prices fall, interest rates soar, with painful consequences for all borrowers.
Niall FergusonToday, the average Korean works a thousand hours more a year than the average German. A thousand. ... That is the end of the Great Divergence.
Niall Ferguson