China

In the West and in particular in the United States the path from pre industrial to industrial took about 7 generations as people over time moved from the farm to smaller cities and then to larger cities. This allowed for proper growth and expansion as the population kept pace with the jobs and the new skills needed had time to evolve. China, using the advanced technology available to them achieve the same growth in two generations but it was so rapid that the work force could not keep up. Added to the problem was the government decision to install a one child policy. The result was very rapid growth for forty years which will now be followed by stagnant growth because there are too few people of working age and to many people too old to work. Add to that the fact that China kept their GDP rising by build all sorts of structures, regardless of the need, and ended up with a billion empty living spaces including homes and apartments. Then they started what was called the Belt and Road Initiative where they were building all sorts of projects around the world and those have been left unfinished and resulted in over a trillion dollars in loses. Then they shut down too much of the country because of Covid. It was one mistaken government policy after another and now China is headed for serious trouble. They can work on some of these problems but it is too late to do anything about the shortage of workers. China is not open to immigration because of their culture. Having one man in control who is isolated from reality because his underlings are fearful of exposing the problems to him as resulted in disaster.