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Even with automation and high tech industry, their GDP per capita (both nominal and PPP) is equivalent to that of Mexico The average household income in China
by nylonstrung 2y ago
Even with automation and high tech industry, their GDP per capita (both nominal and PPP) is equivalent to that of Mexico
The average household income in China is equivalent to making $17K salary in the US, and on average, Chinese work 25% more hours than Americans
Average home in their Tier 1 cities is 20x annual salary, compared to a 7x ratio in NYC
It's still pretty bleak for the average person there- you see that reflected in the "let it rot" youth movement online
- seanmcdirmid 2y agoI'm going to push back a bit here: things are improving, and China is already as rich as Mexico...now I get that American's have a unjustly bad impression of Mexico because of poverty at the not very populated border, but Mexico isn't a poor country, nor is Thailand, etc...these are all middle income countries that are quickly approaching high income countries. Having lived in China for 9 years, and left 9 years ago, I can't really justify calling China poor anymore. Ya, they have a huge rural area and they still have lots of poor people, but they have a huge middle class (even if it isn't a majority of the country) that can afford a lot of things.