Interesting graphs. China does have a lot of very poor provinces, even if high number out of official poverty levels. PPP income per capita is much higher in China than US and growing significantly.
An interesting question is which of these 2 numbers is most important. The PPP income measurements could be flawed if the poorest half of Chinese have been able to accumulate double the wealth as poorest half of Americans.
Even if “attitudes towards savings” are different/a factor, being able to survive while hoping for the upward mobility that savings/wealth provides is more likely than not, a sign that poorer half of Chinese are better off than poorer half of Americans, despite the standard measures of PPP income.
Needs text alternative.
In terms of average purchasing power for the bottom half of their populations
Interesting graphs. China does have a lot of very poor provinces, even if high number out of official poverty levels. PPP income per capita is much higher in China than US and growing significantly.
PPP national income per capita in USA > 3-fold that in China
where China beats USA is personal wealth of the less wealthy as mentioned before
economic inequality
Thank you for correction and other links. China with over 4x the population, has higher PPP GDP, but I misspoke about per capita GDP.
An interesting question is which of these 2 numbers is most important. The PPP income measurements could be flawed if the poorest half of Chinese have been able to accumulate double the wealth as poorest half of Americans.
Even if “attitudes towards savings” are different/a factor, being able to survive while hoping for the upward mobility that savings/wealth provides is more likely than not, a sign that poorer half of Chinese are better off than poorer half of Americans, despite the standard measures of PPP income.