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A quora answer said that it resembled post WW2 US. Strong middle class with less inequality.
by eunos 5y ago
A quora answer said that it resembled post WW2 US. Strong middle class with less inequality.
- barry-cotter 5y agoAs someone who's lived in Shanghai for over a decade the idea of describing China as having less inequality than the US is hilarious. China isn't that poor. People were very close to equal in 1970 or 1980. They were poor in Tianjin. They were poor in Shanghai, They were poor in Hefei. Now large portions of the counytry are as well off as Poland and there are significant numbers of very wealthy people. China is not poor enough to be equal. It's not Chad. It's developing rapidly economically. It also does not resemble post WW2 USA in the pay structure. That artificially compressed pay structure, with doctors only earning 3 times what people in low level manufacturing make, requires a level of labor scarcity China still hasn't reached after 40 years of economic growth.