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To: 9YearLurker

China is not that it used to be. ‘Slave laborers’ in industry makes 6-9 thousand dollars annually. In terms of purchase power parity it is 30,000+ in US. There are still millions of peasants living for a dollar a day, but there are huge number upper middle class people making 100,000+. Probably more than in US.


10 posted on 03/24/2013 2:35:46 AM PDT by cunning_fish
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To: cunning_fish

Maybe it depends on what you call rich.

In 2007, there were a reported 391,000 million-dollar-plus households in China, and 0.8% of households had $100K+ in assets (though of course that includes their retirement, as they don’t have our form of safety net):

http://www.china-mike.com/facts-about-china/facts-rich-poor-inequality

But it sure is growing fast.


12 posted on 03/24/2013 4:30:26 AM PDT by 9YearLurker
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