Richer countries are just richer and spend more money on most things.
On the level of countries, income can go to consumption, investment, or exports. Developing countries have better growth opportunities than rich ones and expend proportionally more resources on investment. That leaves consumption and exports to absorb rich countries better value-creation abilities. Rich countries could keep their consumption levels low, say by donating large amounts of money to foreign charities, but they usually spend it on consumption.
In the end, there’s not much more that people want to do than be happy.
(I am not an economist and would appreciate terminology corrections)
Interesting hypothesis. Here are some others
Richer countries are just richer and spend more money on most things.
On the level of countries, income can go to consumption, investment, or exports. Developing countries have better growth opportunities than rich ones and expend proportionally more resources on investment. That leaves consumption and exports to absorb rich countries better value-creation abilities. Rich countries could keep their consumption levels low, say by donating large amounts of money to foreign charities, but they usually spend it on consumption.
In the end, there’s not much more that people want to do than be happy.
(I am not an economist and would appreciate terminology corrections)