Tokyo Picker

Capitalism, Socialism and 10-Year Returns of Country ETFs

The basic flaw is linking the level of tax/regulation to the change in stock market valuation. The reason why India and China have done so well is that their tax and reulatory environments have been improving, even if they still have a long way to go. The reason why the advanced countries have had relatively little increase in market value is because they have had little (if any) improvement. Change correlates to change.