Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system
The Chinese did rather well in the age of globalization. In 1990, 943 million people there lived on less than $3 a day measured in 2021 dollars – 83% of the population, according to the World Bank. By 2019, the number was brought down to zero. Unfortunately, the United States was not as successful. More than 4 million Americans – 1.25% of the population – must make ends meet with less than $3 a day, more than three times as many as 35 years ago.
The data is not super consistent with the narrative of the US’s inexorable success. Sure, American productivity has zoomed ahead of that of its European peers. Only a handful of countries manage to produce more stuff per hour of work. And artificial intelligence now promises to put the United States that much further ahead.
This is not to congratulate China for its authoritarian government, for its repression of minorities or for the iron fist it deploys against any form of dissent. But it merits pondering how this undemocratic government could successfully slash its poverty rate when the richest and oldest democracy in the world wouldn’t.
https://www.bbc.com/news/world-asia-china-56194622
I guess that was 4 years ago, but I remember it as more recently.
I don’t live in the USA. I consider the USA a 3rd world country cosplaying as a 1st world one. Healthcare in the USA is one of the most broken and predatory in the world. So it’s not a meaningful comparison IMO.
Ah yes, the time China invested enormous sums in it’s infrastructure to improve the economy and quality of life of it’s poorest residents.
I guess if your devalue that investment, you can claim China cheated
I never said China didn’t invest into their national programs. I said their definitions of “poverty” are in question.
Just to clarify something. People tend to confuse the terms of “absolute poverty” and “poverty”.
The claim of “completely eliminating absolute poverty” (which is a claim the CCP makes) is almost true. Supposedly the number of people in absolute poverty in China is now 0.7%.
However, this is often reported as China “eliminating all poverty”, which isn’t true. The World Bank puts people still living in poverty in China at 13% (exact numbers are hard because of the CCPs information control), which is higher than what China self claims. Because China doesn’t use the World Bank’s definition for poverty.
I’ve been to China and have family from there. Don’t try to make this about some nationalistic nonsense. It would be amazing if people in China had as much access to the things in life everyone deserves, but the CCP isn’t exactly known for being honest.