this post was submitted on 30 Dec 2023
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Alternative headline: "The Vast Majority Of Chinese People Are Poverty Stricken"
This is really really really REALLY not good.
I haven't looked since 2021 but I was under the impression that poverty alleviation in China had been remarkable and almost single-handedly responsible for making it look like the UN hit the Millennium Development Goals or whatever they were called. Maybe it's a matter of degree, and people are still poor but not ultra poor?
It would be wise to keep the exchange rates and purchasing power in mind. A dollar in America doesn't get you an equal amount of goods as a dollar's worth of yuan in China could get you. That being said, from what I gather, most people in China live on an income that is under 2000 yuan a month, and the rest of their income is subsidized with social assistance. Even so, that's not a great long term economic strategy if people's basic income isn't enough to live on.
I checked, it was alleviation of extreme poverty and the success was historically unprecedented in such a short period of time. But that leaves regular poverty, which still isn't great.
There's not a single statistic that comes out of the chinese government that's accurate by any measure.
For reference on their economic numbers versus reality: https://www.moneymacro.rocks/2022-10-27-china-smaller/ Macro economics professor's report on the matter and the CCP accidentally admitting the fact they doctor all their statistics: https://www.reuters.com/article/us-china-economy-wikileaks-idUSTRE6B527D20101206/ as well as an in depth research report on their reported GDP versus country-wide activity https://bfi.uchicago.edu/wp-content/uploads/2021/07/BFI_WP_2021-78.pdf
China's GDP is at LEAST 60% smaller than they've reported. They're still the second largest economy but by no means are they ANYWHERE near the USA in economic growth, stability or reliability.
Sure, but what I'm referring to is pretty well established. I'm not talking about anything particularly recent.