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Global inequality has sort of fallen, insofar as China has reportedly lifted 800 or 900 million people out of extreme poverty. I suspect that's not what their w
by hkt 4y ago
Global inequality has sort of fallen, insofar as China has reportedly lifted 800 or 900 million people out of extreme poverty. I suspect that's not what their were referring to though..!
- eru 4y agoNot just China. All over the world once dirt poor people have started closing the gap. Most of South East Asia, India, even Sub-Saharan Africa, etc.
- hkt 4y agoTrue, although as I understand it China has risen further and faster. Point taken though. Nigeria is one to watch on this.
- eru 4y agoYes, China's rise has been astounding. However keep in mind that China is still only about as rich as Mexico or Russia in terms of GDP per capita. So hasn't joined the rich world, yet. Ethnic Chinese people are very successful around the world. Mainland China actually has on average the poorest Chinese people. Compare eg Singapore, Taiwan, or even the ethnic Chinese populations in Thailand or the US. (Not completely sure about the Chinese people in Thailand. Need to dig up stats.) I myself migrated to Singapore a few years ago, as I agree with their pro-market policies. We also have great food here. Just the weather is a bit muggy.
- hkt 4y agoNot yet, you're right - but if the World Bank is to be believed, it has raised 900 million people out of extreme poverty. That's astonishing compared to how everywhere else seems to be doing. > weather is a bit muggy On a rainy day in England, I can very much sympathise!