China Per capita tells us they are poor while being 2nd richest GDP

[takeitwithyou]

Imagine you are a country that has the second highest GDP earnings and now imagine your per capita is less than 55% of world's countries. Where did the money go or was the talk of having the money mostly fake?

Four decades of strong economic growth has helped China become the world's second-largest economy. But things aren't as good as often described in social media. China is still a "poor" country, at least according to a number of broadly used measures of the quantity and quality of life, and potential to make the Great Leap Forward to the status of a developed country.

Take China's per capital GDP, for example. It stood at U.S.$6894.50 in 2016 -- 55% below the world's average (makes no sense why they are behind 55% of countries with all that GDP wealth), according to Tradingeconomics.com.

Some REASONS
1. POOH Bear Xi is corrupt AS is his family and henchmen!

Leaked Records Reveal Offshore Holdings of China’s Elite
Close relatives of China’s top leaders have held secretive offshore companies in tax havens that helped shroud the Communist elite’s wealth, a leaked cache of documents reveals.

The confidential files include details of a real estate company co-owned by current President Xi Jinping’s brother-in-law and British Virgin Islands companies set up by former Premier Wen Jiabao’s son and also by his son-in-law.

Nearly 22,000 offshore clients with addresses in mainland China and Hong Kong appear in the files obtained by the International Consortium of Investigative Journalists. Among them are some of China’s most powerful men and women — including at least 15 of China’s richest, members of the National People’s Congress and executives from state-owned companies entangled in corruption scandals.

PricewaterhouseCoopers, UBS and other Western banks and accounting firms play a key role as middlemen in helping Chinese clients set up trusts and companies in the British Virgin Islands, Samoa and other offshore centers usually associated with hidden wealth, the records show. For instance, Swiss financial giant Credit Suisse helped Wen Jiabao’s son create his BVI company while his father was leading the country.

The files come from two offshore firms — Singapore-based Portcullis TrustNetand BVI-based Commonwealth Trust Limited — that help clients create offshore companies, trusts and bank accounts. They are part of a cache of 2.5 million leaked files that ICIJ has sifted through with help from more than 50 reporting partners in Europe, North America, Asia and other regions.

Since last April, ICIJ’s stories have triggered official inquiries, high-profile resignations and policy changes around the world.

2. China's economic reforms have let party leaders and their families get rich
3. Chinese firm: We're missing $350M after exec's disappearance
4. Money from absentee Chinese and Russian oligarchs blamed for distorting housing market


OR maybe it is because they have self-confessed to fudging
1. Officials admit to faking economic figures
2. China’s 2015 GDP Was Exaggerated By Fake Data, Analysis Shows

 

[Arabi]

their corrupt president is busy serving his corrupt guests one of the most expensive wine in the world that costs over $ 200k for a bottle .... he must be punished for such an act while his people live in poor condition.

 

[Serpentine]

their corrupt president is busy serving his corrupt guests one of the most expensive wine in the world that costs over $ 200k for a bottle .... he must be punished for such an act while his people live in poor condition.

Am I seeing this right? Did you, a Saudi, just criticized Chinese leader for serving expensive wine to his guest?

Saudi prince Mohammed bin Salman 'buys £452m yacht' but slashes public spending


I mean, you of all people are in no position to even talk about inequality in China or any other country. In your tribal confederate also known as Saudi Arabia, thousands of princes hold billions upon billions of dollars only because they are a member of the inbred 'royal' family and nothing more.

 

[Arabi]

Am I seeing this right? Did you, a Saudi, just criticized Chinese leader for serving expensive wine to his guest?

Saudi prince Mohammed bin Salman 'buys £452m yacht' but slashes public spending


I mean, you of all people are in no position to even talk about inequality in China or any other country. In your tribal confederate also known as Saudi Arabia, thousands of princes hold billions upon billions of dollars only because they are a member of the inbred 'royal' family and nothing more.

So if MBS got a yacht, then the Chinese president isn't guilty for spending his own people money on expensive wine.. is that what you are trying to say?

 

[Serpentine]

So if MBS got a yacht, then the Chinese president isn't guilty for spending his own people money on expensive wine.. is that what you are trying to say?

You don't get it. First, China has had an exemplary growth rate in past decades and moving fast towards becoming a developed country. With a population of 1.4 billion people, it does take a good amount of time to get there. If Chinese leaders were that corrupt as you say, it wouldn't overtake US economy in years and wouldn't be on the path to become another superpower. A single wine shows nothing of being corrupt, but my example shows how corrupt Saudi royal family is.

 

[Offshore]

You don't get it. First, China has had an exemplary growth rate in past decades and moving fast towards becoming a developed country. With a population of 1.4 billion people, it does take a good amount of time to get there. If Chinese leaders were that corrupt as you say, it wouldn't overtake US economy in years and wouldn't be on the path to become another superpower. A single wine shows nothing of being corrupt, but my example shows how corrupt Saudi royal family is.

people need to understand.. that wine is coming from state budget, not from Xi personal saving.
but what can you expect from sand ni gg a?

 

[takeitwithyou]

people need to understand.. that wine is coming from state budget, not from Xi personal saving.
but what can you expect from sand ni gg a?

Chinese calling Muslims Sand Niggas ....wow.

 

[Offshore]

Chinese calling Muslims Sand Niggas ....wow.

 

[Zen0]

Xi is literally a dictator , his family is corrupt. His brother in law's name is in the Panama papers , has a 300million illegal real estate business using xi & his family connections


https://www.washingtonpost.com/amph...-panama-papers-are-super-awkward-for-beijing/

 

[Tauren Paladin]

$11.9 trillion divided by 1.4 billion people=..........
India= $2.4 trillion divided by 1.337 billion people= cow crap

 

[oprih]

If you want to laugh just go check the per capita of the self proclaimed supa powa india.

And it's funny to see an Arab trying to attack the Chinese government for serving expensive wine to the guests.

 

[siegecrossbow]

World bank reported a Chinese GDP per capita of $8,123.2. Don't know where the OP got his data from.

 

[beijingwalker]

China Wage Levels Equal To Or Surpass Parts Of Europe
Kenneth Rapoza
AUG 16, 2017
This may be a glass half-full moment. Either China is catching up to parts of Europe in terms of wages, or wages in the newest parts of the European Union are being capped by the global competition for labor, a competition that China wins, hands down. In reality, it's both.

China's median monthly wages in Shanghai ($1,135), Beijing ($983) and Shenzen ($938) are higher than they are in the newest European Union member, Croatia. Croatia's median net salary is $887 a month. They joined the EU in 2013.

Shanghai's median wages, in particular, are also greater than two of the newest euro members in the Baltics: Lithuania ($956) and Latvia ($1,005), with Estonia, which joined the euro in 2011, recording a median income of $1,256 per month, according to government figures for 2016.

Over the last 10 years, Europe has sought to incorporate the skilled, lower cost labor pool from Eastern Europe into the fold of the European Union. In 2002, China became more fully integrated into the global labor force when it joined the World Trade Organization. The combination of these two massive labor pools into the workforce set the stage for wage stagnation among lower skilled and assembly line labor worldwide.

In economic jargon, this is described as the ‘flattening of the Phillips Curve’ says VTB Capital economist Neil MacKinnon.

"The impact of globalization and the entry of China into the WTO in 2002 increased the global labor supply markedly," he says. Excess supply of Chinese labor and the stream of low-cost Chinese goods into the world economy was a boon for global consumers, but it also meant that certain products and jobs that were done in Eastern Europe were going to have to compete with cheaper China. Supply chains and markets aside, the biggest cost to a company is its workforce. China's workforce is finally getting paid. Eastern Europe's China-like wages are just par for the course in a world where the motto has become: anything you can do, China can do cheaper.

China sets the price for manufacturing labor and, in the future, e-commerce related logistics. Some Europeans should hope for China's continued pay increases if they want an increase in gross wages themselves.

China's share of world trade (an average of exports plus imports) increased from slightly less than 2% in 1990 to almost 15% today, according to the Bank for International Settlements. Since then, China’s economic markets have joined the global economy, led primarily by its labor force with a capital-to-labor ratio below global standards. China is only now starting to automate.

Eastern Europe's integration into the West is often overlooked.

Over a similar time span, between the 1990s to today, Eastern European countries have fallen out of Russia's orbit and moved Westward. Prior to the fall of communism, these countries had been more or less isolated. Labor was abundant and well educated, but capital and management were limited. So a fruitful combination ensued: Western Europe supplied the money and the management, Eastern Europe supplied the cheaper labor.

The numbers associated with the integration of China and East Europe are staggering. Counting just the potential workforce, the working population in China and eastern Europe between the working ages of 20 to 64 was 820 million in 1990 and hit 1.2 billion by 2015. The available working population in the industrialized countries of Europe was 685 million before the crack-up of the Soviet Union in 1990 and hit 763 million in 2014, a one-time increase of 120% in the workforce that put the brakes on wages for lower skilled workers, according to the BIS.

Using those three Chinese cities as a gauge, their employees' median salaries are higher than those in the poorest section of Europe: the old Communist Balkans.

Just across from the Adriatic Sea on rich Italy's border sits a Chinese-like labor pool. Only they come cheaper, in fact. Chinese workers in Shanghai, Shenzhen, and Beijing, on average, earn more than workers in Albania, Romania, Bulgaria, Slovakia, and new NATO member Montenegro, which has a median income of just $896 a month.

Shanghai median wages are not all that much different than Poland's at $1,569. The same goes for the Czech Republic, with its median salary in Prague, its richest city, sitting around $1,400. Hungary's gross average wage is right in Shanghai's wheelhouse, at $1,139 per month.

China's wage growth is impressive. Great for the Chinese. But it has capped wage growth in many of the lower income states within Europe. What these numbers show is that China's role as manufacturing hub has set the table for any future uptick in wages, especially for the baseline workers in manufacturing, but soon in other new industries like e-commerce.

https://www.forbes.com/sites/kenrap...l-to-or-surpass-parts-of-europe/#2f5478ca3e7f

 

[Yaseen1]

if there is no inflation then less income per capita is not bad but is good as it will result in less supply of money which will reduce inflation.increasing income of individuals with increase of inflation and debt has no benefit.income of people should be enough to fulfill necessary need if this is done with low income due to cheap prices this is is good