Comment on Finally, Common Ground...
lmmarsano@lemmynsfw.com 4 weeks ago
Needs text alternative.
In terms of average purchasing power for the bottom half of their populations
China has many more socialized services and their income level is far less indicative of overall quality of life
It has honestly been a long time since I heard someone in the west suggest the chinese economy is struggling at all - i thought maybe something meaningful had happened in the last week or something that changed that picture
An interesting question is which of these 2 numbers is most important. The PPP income measurements could be flawed if the poorest half of Chinese have been able to accumulate double the wealth as poorest half of Americans.
Even if “attitudes towards savings” are different/a factor, being able to survive while hoping for the upward mobility that savings/wealth provides is more likely than not, a sign that poorer half of Chinese are better off than poorer half of Americans, despite the standard measures of PPP income.
humanspiral@lemmy.ca 4 weeks ago
Interesting graphs. China does have a lot of very poor provinces, even if high number out of official poverty levels. PPP income per capita is much higher in China than US and growing significantly.
lmmarsano@lemmynsfw.com 4 weeks ago
PPP national income per capita in USA > 3-fold that in China
where China beats USA is personal wealth of the less wealthy as mentioned before
economic inequality
humanspiral@lemmy.ca 4 weeks ago
Thank you for correction and other links. China with over 4x the population, has higher PPP GDP, but I misspoke about per capita GDP.