ArcticGabe said:
Kasz216 said:
China's economy is slowing.
Not stopping or reversing yet.
In general China's big issue is transitioning over to a consumer based economy vs the export based economy they have now.
They could succeed, or they could fail... yet to be seen.
One big isse to consider is that while they are a HUGE Economy....
they're like.... 90 when it comes to per captia. AKA economic output per person. Which is troublesome in a consumer based GDP.
This is really true when considering there Gini coefficent is about equal to the US, but because of the above they don't have that many super rich, which mean there poor are essentially third world poor.
They need to raise their poor up before they can transition well... and when they do, suddenly not worrying about needs, people WILL worry about freedoms.
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We are making the transition, much of the east coastal area is already considered 'developed' by international standard, we have the biggest auto market in the world, 0.5 billion internet users, also most mobile phone users in the world. by GDP (PPP) we ain't far from beating USA, (actually we will be the biggest economy in the world by 2016), as our currency is under valued, GDP (normal) is not a good representation of the Chinese economy. So Chinese ppl are alot richer than you thought.
As for the gini coefficient, China has the second most billionaires in the world, yes the poor are very poor compare to America, but their standard of living is rising rapidly too. The Chinese government knows what they are doing, as an oversea Chinese, I trust them! :)
20 years ago, China wasn't even top 10 in the world by GDP, 10 years ago China was No.7. Now we are No.2. Our development is beating all the predictions made in the 90s by those economists :)
Go CHina!
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You seem to be missing the point I was making though. Which is while China's GDP is impressive. It's Per capita GDP is not. (Aka, GDP divided by population.)
Which is VITAL for a consumer based economy.
It's fairly easy to win a numbers game, when you have more numbers however to take those numbers without looking at the averages doesn't really say much.
As far as i can tell actually, employee's share of income has been slow compaired to price growth.
http://english.peopledaily.com.cn/90780/7605927.html
