I write a bit about how the West is falling. I don’t like to be negative and dwell on the situation too much, but things are getting pretty bad. North America was supposedly the place where things were efficient, and things worked. In my experience, this is only true if getting random items rung up quickly at the cash register is a priority of yours. When it comes to government offices, getting stuff done in Canada is incredibly painful in comparison to my home country. Taxis, maids, and random amenities felt cheap and high quality in many countries across Latin America when compared to Canada too. The good hotels in Canada are on par with the good hotels in my corner of the world, and the low end is cheaper where I’m from. When it comes to quality of life, most ambitious and educated people have a better shot at achieving it outside of North America than within the region, from what I can tell. This includes Mexico, because while the place is cheap, the wages for educated people are simply too low. It’s astonishing how much less professionals from there compared to even poor countries. All this being said, English is likely to remain the language of business, and the United States will likely remain the dominant economic power for the next 50 years. They just won’t have the same geopolitical dominance as before. Here’s why.
The United States is a lot richer than the rest of the world
There are about 8 billion people on planet Earth. Global GDP per capita is about $14,000 per year. There are 340 million people in the United States. US GDP per capita is about $80,000 per year. Americans are basically the richest 5% of the world, and they are about 5 times as economically productive as the average global citizen. It’s evident from social media and real life that the rest of the world is catching up, but the gap is still huge. You can find the data I used here.
A lot of the other wealthy countries are English speaking countries
I shouldn’t have to pull up data for this one. Australia, England, Canada, the rest of the UK. Even India for its sheer size. The English-speaking world is huge, and it’s extraordinarily wealthy. Even if the United States were to collapse overnight and have its people disappear, English would still be a language of some (although severely reduced) value.
The growth in poor countries is more “basic”
The economy is based on what people want to buy. The economy growing means more people are getting their hands on more money on average. When poor people get their hands on money, they want to buy really basic stuff. Housing, food, maybe some nice furniture. You’re not going to be selling middle class Vietnamese people on your $300/hour couples therapy plan. So, unless you have a lot of money, don’t mind working your way up the ladder in a poor country like I am, or have some special job, you’re going to probably want your funds to be connected to the English-speaking world in some way.
Most countries haven’t “reached” a real internet age yet
If you’re between the ages of 5 and 10 reading this right now (not sure why you would be reading this blog), I would be trying to use AI to try and teach myself Spanish and Mandarin. The US had a GDP per capita of about $23,000 in 1990. That was way before the first blog was created. People are watching content online and using their phones, but most of the world still has a very long way to go before they can fund and explore the mindless ecommerce ventures that can make Americans and those who target them wealthy. Yeah, people order stuff online where I’m from, but it’s not the same as in the United States. The money and development just aren’t there yet. If you’re a solopreneur, you’re best off targeting the United States and other wealthy regions. It’s what my super-affiliate uncle did.
Make the money in America and invest it elsewhere
I make my money mainly in America. The rest comes from Canada, the United Kingdom, and Australia. My blog is for English speakers, and the topics of interest concern those living in first world countries. I can write while living on an island, comfortable with knowing that I won’t ruin my future, because even if I only end up earning $20,000 per year from this endeavor, I’ll still find myself smack dab in the upper middle class of my country’s population.
When it comes to investing, I would honestly have to think carefully before investing in my country. The place I live in has a lot of potential, but it’s densely populated and lots of people want to leave. The macro environment could theoretically shrink, and the country is vulnerable to recessions. That being said, Africa and Asia offer tons of investment opportunities. I personally think the best and safest thing to do is buy land or a house, while the second best is to start a tourism-based business in places where there are gaps in the market. Basically, you want to be taking advantage of the economic growth of the developing world without getting scammed or stepping on too many toes. I’m sure IT businesses work well everywhere too.
If you’re running any kind of entertainment or digital business, keep it in English unless you have some sort of competitive advantage. The market is bigger, you’ll make more money, and you can always invest in other countries when you have some money. The West is crumbling, BRICS is cool, Asia is rising, Latin America is free, but don’t get hyped up on a fantasy. The USA is a very wealthy country, and English will be the language of commerce for most if not the entirety of my lifetime. So don’t be afraid of the competition. Target an English-speaking audience while the arbitrage opportunity continues to last.
By Rising Current on .
Exported from Medium on November 8, 2024.
