GDP per capita in the USA is 3.4 times higher than China by purchasing power parity ...
USA - $80,412
China - $23,309
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
Re: PPP
I was trying to keep it simple.
Also, the USD/Yuan exchange rate is set by the government not by the market, real estate wealth in China is massively inflated, their agricultural sector is one of the least productive in the world, etc.
I am very skeptical that $1 USD buys just $3.5 of goods and services in China.