Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system
The Chinese did rather well in the age of globalization. In 1990, 943 million people there lived on less than $3 a day measured in 2021 dollars – 83% of the population, according to the World Bank. By 2019, the number was brought down to zero. Unfortunately, the United States was not as successful. More than 4 million Americans – 1.25% of the population – must make ends meet with less than $3 a day, more than three times as many as 35 years ago.
The data is not super consistent with the narrative of the US’s inexorable success. Sure, American productivity has zoomed ahead of that of its European peers. Only a handful of countries manage to produce more stuff per hour of work. And artificial intelligence now promises to put the United States that much further ahead.
This is not to congratulate China for its authoritarian government, for its repression of minorities or for the iron fist it deploys against any form of dissent. But it merits pondering how this undemocratic government could successfully slash its poverty rate when the richest and oldest democracy in the world wouldn’t.
Your last comment was talking about people eating rats and bug and living without healthcare…if that doesn’t describe a hellhole, I don’t know what does.
But in this comment you’ve changed gears and everything seems reasonable…and I’m on board.
Pointing out the realities doesn’t mean I see China as hellhole. If you see it as such it’s your own view. So, don’t reflect it on me.
I’m pointing out the fact that government doesn’t provide equal opportunities and they use heavy censorship on such realities.
When you chose who gets to have the opportunities and who doesn’t, it’s not a miracle! Any authoritarian government can do that and they do it to an extent.
This is article is just a puff piece without real information in my eyes and I stated that. Rest is up to you.
Non thing to disagree with here….reasonable and I agree.