dropped from 91% in extreme poverty in 1981 to less than 0.1% today
Posted on 09/10/2023 10:41:25 PM PDT by Cronos
Facing a slowing economy and a less secure jobs market, China’s educated elite are left negotiating a new central bargain with the government
Like tens of millions of other wealthy urbanites in China, Lynne has ridden the wave of an economic boom that has transformed China from a poor, largely rural country into the world’s second-largest economy.
When Lynne was born in 1990, nearly 70% of China’s population lived in extreme poverty, according to the World Bank. Now that share is virtually zero .
...according to the Pew Research Centre, the share of China’s population in the middle income group grew from 3.1% in 2000 to just over 50% in 2018. By the end of this decade, another 80 million people will join their ranks, predicts Boston Consulting Group.
But although living standards are improving for many people, social mobility is stalling. Children born in the bottom 20% of society in the 1980s are less likely than those born in the 1970s to move into the top 20% income group, according to a 2019 study. Amid growing inequality, climbing the social ladder is competitive and increasingly only an option for families that are already wealthy. A study, published in 2020, found that while sons of peasants had increased their access to higher education by 11 percentage points between 1945 and 1980 onwards, for sons of professionals the increase was 34 percentage points.
...China’s educated younger generations are overqualified for factory jobs, once the bedrock of China’s economy, but have struggled to find meaningful work to take its place. In 2021 more than 70% of unemployed Chinese city-dwellers aged 16 to 24 had a degree.
...But other economists think that China will never become number one, and that its economy will soon peak.
(Excerpt) Read more at theguardian.com ...
dropped from 91% in extreme poverty in 1981 to less than 0.1% today
“ China’s educated elite are left negotiating a new central bargain with the government”
There’s no negotiation with the Chicoms.
Guardian writes stupid things.
You realize that’s a complete lie.
“Poverty” is in the eye of whomever is trying to measure it.
Just look at how the “war on poverty” has bankrupted the USA, morally speaking. Pretty bizarre, huh?
So we have an even worse kind of poverty now. And the poor? We are importing them, and spending money we don’t have on them.
Ok, I’ve been to the southern provinces of China a lot. I know nothing about the north or west in China. But from Shenzhen up to Shanghai on the east coast, and out west thru Guangxi to the border with Vietnam I’ve been to a lot of rural villages as well as the big cities.
Rural areas are very empty - everyone moved into the cities for work- beautiful old villages lie empty. Those who remain do not have an easy life. My wife’s cousins live in such a village, while the rest of the family lives in Shanghai.
In China, your “city card” (ID from your city) determines much of your life. Want to take the fast train to another area? Not without your city card. Villagers don’t have one, and they also have no retirement.
My wife is eligible to retire next month- she paid into the system for many years, and turns 50. Other places require you to be 55 - depends on your city card.
The CCP is nearly powerless in the cities - but the local police and governments are extremely powerful. Mayors are like tribal chieftains, but they report to the Provincial authorities, who then in turn report to the CCP. Yes, this is where the books are cooked.
The west does not understand China at all…..
Man, China got on somebody’s $hit list. Probably from helping out Russia.
China doesn’t want to be understood, because uncertainty allows it a certain amount of power while it does what it wants anyway.
China was suppose to overtake the U.S. economy three years ago.
Their working age population goes into a sudden decline, due to demographics, in 2030 and the article suggests they will overtake us in 2035?
Nope
“Eating Bitterness” (吃苦 - chi ku) is a phrase that means to persevere through hardship without complaint, or even to suffer.
Such experiences of perseverance or suffering were recounted during “speak bitterness” sessions, where the oppressed were encouraged to indict the Old Society. Mere articulation of sufferings was not sufficient; the sense of bitterness had to be cultivated and fermented. As a result, class consciousness and/or class hatred would emerge or be strengthened.
Take a look at the poster captions:
https://chineseposters.net/themes/eating-bitterness
“Keep the class enemy firmly in mind, hold the gun tightly in one’s hand”
https://chineseposters.net/posters/e15-34
Xi’s “Eat Bitterness” = “Suck it up”
Yup. One of WEF's media mouthpieces, The Economist, has a hit piece on Xi this week.
Just in case you missed it...
Something odd about this chart. When the poverty rate was 10%, China was spending 30 Billion Yuan per year fighting it. To effectively drive that poverty number down to ZERO, China is now spending 120 Billion Yuan per year.
Another way to look at it, China spent approx. 220 Billion Yuan from 2000-2012 to drive Poverty down from 50% to 10%. HUGE CHANGE!!
China spent ANOTHER 500+ Billion Yuan from 2012-2019 to go from 10% to ZERO. That last 10% was hugely expensive. Years ago, I read somewhere that there is a baseline poverty rate regardless of prosperity of the country. This chart would suggest that baseline is somewhere near 8-10%.
Then again ALL numbers out of China are CRAP, so take this with a HUGE grain of salt.
Presently, Chairman Xi is destroying China. The relative prosperity and freedom must be totally destroyed in order to exert complete CCP control of everything.
The Chinese economy is wrecked and in shambles. Real estate development and related construction are dead and gone. Banks are holding the bag of infinitely large bad debt. The banking system is essentially dead. Employment of the young highly educated population is large and growing. The number of 25% is preposterously low.
Xi is destroying all vestiges of private and corporate and family business. Xi will replace all that was with corporate businesses and manufacturers that are 51% CCP owned.
Xi is creating a new society based on industrial communes. The population will have jobs making all the stuff before the change but the jobs will be on the industrial communes.
China was for at least twenty years
.
China who has been the political establishment’s most favored son for decades. I think America’s rulers are obviously starting to lose control of the world.
It's always nice to see confirmation of your thinking. Thanks.
WWG1WGA
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