☆ Yσɠƚԋσʂ ☆ to China, 中国English · 2 months agoThe number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉www.ft.comexternal-linkmessage-square9fedilinkarrow-up139arrow-down13file-textcross-posted to: sino@hexbear.netchina@lemmygrad.ml
arrow-up136arrow-down1external-linkThe number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉www.ft.com☆ Yσɠƚԋσʂ ☆ to China, 中国English · 2 months agomessage-square9fedilinkfile-textcross-posted to: sino@hexbear.netchina@lemmygrad.ml
minus-square☆ Yσɠƚԋσʂ ☆OPlinkfedilinkarrow-up16arrow-down1·2 months agoIndeed it is, the real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015. https://www.nber.org/system/files/working_papers/w23119/w23119.pdf From 1978 to 2000, the number of people in China living on under $1/day fell by 300 million, reversing a global trend of rising poverty that had lasted half a century (i.e. if China were excluded, the world’s total poverty population would have risen) https://www.semanticscholar.org/paper/China’s-Economic-Growth-and-Poverty-Reduction-Angang-Linlin/c883fc7496aa1b920b05dc2546b880f54b9c77a4 From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019&%3Blocations=CN&%3Bstart=2008
Indeed it is, the real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015. https://www.nber.org/system/files/working_papers/w23119/w23119.pdf
From 1978 to 2000, the number of people in China living on under $1/day fell by 300 million, reversing a global trend of rising poverty that had lasted half a century (i.e. if China were excluded, the world’s total poverty population would have risen) https://www.semanticscholar.org/paper/China’s-Economic-Growth-and-Poverty-Reduction-Angang-Linlin/c883fc7496aa1b920b05dc2546b880f54b9c77a4
From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019&%3Blocations=CN&%3Bstart=2008