Commentary
One of the themes in my Epoch Times columns is that a large part of what’s wrong with California is the politicians’ oversized belief in the importance of the state, and of themselves. They keep saying the state soon will be the fourth largest global economy, surpassing Great Britain and Germany, when it’s just a subsection of the U.S. economy.
And even at that, fourth largest isn’t all that remarkable. The state’s GDP was $3.6 trillion in 2022. But that was just 3.5 percent of the $101.6 trillion global economy. Not that impressive.
Given the state’s many problems publicized globally—homelessness, people leaving, high taxes, ludicrous housing prices—the whole world, to turn a 1960s hippy phrase, is not watching….