China’s Economy Is Bouncing Back—And Gaining Ground on the U.S. Overtaking in 2028

[FairAndUnbiased]

PREMIER never called it disposable income, furthermore, he said that income was not even enough to pay rent in cities. That shows he is talking about monthly income because nobody pays rent with disposable income.

You can show some other lowly institution saying otherwise. The Premier is one of the highest-ranked politburos. His word stands

the words of an individual politician actually has no standing whatsoever. proof: Trump.

 

[rent4country]

the words of an individual politician actually has no standing whatsoever. proof: Trump.

This is China. The politburo doesn't say anything not vetted and having permission.

 

[Mista]

This is China. The politburo doesn't say anything not vetted and having permission.

Wow, so why did the Chinese state media get so ballsy and clarified what the Premier said?

 

[rent4country]

Wow, so why did the Chinese state media get so ballsy and clarified what the Premier said?

They never clarified his statement

 

[Mista]

Again, there are so many misconceptions from both sides.

It was in full context obviously disposeable income and has been explicitely clarified to be disposeable income and its rooms in medium Chinese cities which are on the high end of a huge pricing gap.

Going by disposable income, alot of Americans are living month to month in contrast to Chinese with lower personal debt.

Disposable income is not discretionary income.

Disposable income is calculated by subtracting income taxes from income.
Discretionary income is what a household or individual has to invest, save, or spend after taxes and necessities are paid.
Examples of necessities include the cost of housing, food, clothing, utilities, and transportation.
Both disposable and discretionary income are similar, except disposable income does not account for necessities.

Disposable Income vs. Discretionary Income: What’s the Difference?

Discretionary income and disposable income help measure consumer spending. Here's how they compare.

www.investopedia.com

Disposable income is just income minus income taxes and social security charges. Deductions of necessities go under discretionary income.

But Li is not talking about income, disposable income, or discretionary income.

He's talking about disposable household income per capita. Basically household income after income taxes divided by the number of household members.

And that is why those who are not working are included in the figure of 600 million, because they are part of the household.

Last year, the bottom 40 per cent of Chinese households ranked by income, totalling more than 600 million people, had a per capita disposable income of 11,485 yuan (US$1,621)

Over 40 per cent of people in China survived on just US$141 per month in 2019

Last year, the bottom 40 per cent of Chinese households ranked by income, totalling more than 600 million people, had a per capita disposable income of 11,485 yuan (US$1,621).

www.scmp.com

For example ,average wage (gdp nominal) in Iceland is 66K $ but average disposable income is 33K $.

GDP is not wage. GDP is total economic output, and it includes profits, rents, and interest as well. Wage (labor) is just one component of GDP.

 

[Mista]

They never clarified his statement

Don't play stupid with me, other posters have posted it and I have cited Caixin as well. Their state media have also clarified that Li was referring to disposable household income per capita. Not income, disposable income, or discretionary income.

Look at the post above.

Additional sources from their state media:

People's Daily:
人民网北京6月15日电 据国家统计局网站消息，就最近社会热议“有6亿人每个月的收入也就1000元”一事，国家统计局新闻发言人付凌晖表示，关于6亿人每个月人均收入1000元，可以从全国住户收支与生活状况调查数据得到印证。

http://politics.people.com.cn/n1/2020/0615/c1001-31747507.html

Xinhua:
如何理解居民收入的定义？

国家统计局在测量居民收入时，使用的是“居民可支配收入”的概念，具体包括4种收入来源：工资性收入、经营性收入、财产性收入和转移性收入。2019年，全国居民人均可支配收入为30733元，以上四项收入所占的比重分别为：56%，17%，9%和18%。由此可见，工资收入只是居民收入的一部分，而且这部分收入的比重在持续下降。即使对低收入人群而言，家庭经营净收入如出售农产品净收入，家庭转移净收入如低保金，家庭实物收入如农民的自产自用农产品折算收入，都无法通过工资收入的测量体现出来。

另外，居民人均收入是家庭可支配收入除以家庭人口后得到的，而家庭人口包括就业人口和非就业人口。我们常形容一个家庭“上有老，下有小”，老人、儿童、学生等被赡养人口就都属于家庭人口中的非就业人口。由此可见，就一个个具体家庭而言，其就业人口的工资收入不能等同于整个家庭人均收入。

怎么看“6亿人每月收入1000元”-新华网

怎么看“6亿人每月收入1000元” ---6亿人的平均月收入为1000元左右，是对这个人群总体而言的，是包括就业人口及老人、儿童等非就业人口的平均收入。这就意味着其中有收入高于1000元的，也有低于1000元的，还有不少没有收入的。

www.xinhuanet.com

 

[Mista]

There can be a fairly large difference between median income and median household income per capita.

Eg; In Singapore's case, the difference is 1.5x.

Median income: S$4.5K
The nominal median income of Singapore residents on full-time employment increased this year to S$4,563 from the S$4,437 recorded in 2018, the Ministry of Manpower (MOM) report said.
This year's 2.2 per cent real income growth is lower than the growth of 4.4 per cent in 2018.

Income growth slows in Singapore; median salary now above S$4,500: MOM report

SINGAPORE: Workers in Singapore received a bump of 2.2 per cent in their income in 2019, according to the Labour Force in Singapore Advance Release report released on Thursday (Nov 28).The nominal median income of Singapore residents on full-time employment increased this year to S$4,563

www.channelnewsasia.com

Household income: S$9.4K,
Household income per capita: S$3K

https://www.singstat.gov.sg/-/media/files/publications/households/pp-s26.pdf

 

[Leishangthem]

Premier never says it is 'disposable' income, he says monthly income.
DIRECT QUOTE
"The average per-capita annual income in China is 30,000 yuan (USD 4,193), but there are over 600 million people whose monthly income is barely 1,000 yuan (USD 140), not enough to rent a room in the Chinese cities," Li said while addressing his annual press conference here.

are you a parrot? the chinese premiere isn't a data machine,there is National Bureau of Statistics that collects stats and publishes it, which's used by every one.There's nothing else.

Opinion: China Has 600 Million People With Monthly Income Less Than $141. Is That True? - Caixin Global

Opinion: China Has 600 Million People With Monthly Income Less Than $141. Is That True? - The country’s hundreds of millions of low earners mean we should dismiss claims that China is no longer a developing nation

www.caixinglobal.com

It published exactly 600m people had a disposable income of below 1000 yuan ,which is great when china has 650 million almost uneligible for jobs(students and elderly).

Again, there are so many misconceptions from both sides.




Disposable income is not discretionary income.

Disposable income is calculated by subtracting income taxes from income.
Discretionary income is what a household or individual has to invest, save, or spend after taxes and necessities are paid.
Examples of necessities include the cost of housing, food, clothing, utilities, and transportation.
Both disposable and discretionary income are similar, except disposable income does not account for necessities.

Disposable Income vs. Discretionary Income: What’s the Difference?

Discretionary income and disposable income help measure consumer spending. Here's how they compare.

www.investopedia.com

Disposable income is just income minus income taxes and social security charges. Deductions of necessities go under discretionary income.

But Li is not talking about income, disposable income, or discretionary income.

He's talking about disposable household income per capita. Basically household income after income taxes divided by the number of household members.

And that is why those who are not working are included in the figure of 600 million, because they are part of the household.

Over 40 per cent of people in China survived on just US$141 per month in 2019

Last year, the bottom 40 per cent of Chinese households ranked by income, totalling more than 600 million people, had a per capita disposable income of 11,485 yuan (US$1,621).

www.scmp.com

View attachment 664236



GDP is not wage. GDP is total economic output, and it includes profits, rents, and interest as well. Wage (labor) is just one component of GDP.

View attachment 664237

View attachment 664238

The average wage can be determined based on PPP or (nominal) GDP.
For example,
avg wage of Switzerland, based on ppp is 64K$
average wage of Switzerland based on GDP(NOMINAL) is 70k$.
And to further clarify,there are all annual wages .

 

[Hamartia Antidote]

There can be a fairly large difference between median income and median household income per capita.

Eg; In Singapore's case, the difference is 1.5x.

Median income: S$4.5K
The nominal median income of Singapore residents on full-time employment increased this year to S$4,563 from the S$4,437 recorded in 2018, the Ministry of Manpower (MOM) report said.
This year's 2.2 per cent real income growth is lower than the growth of 4.4 per cent in 2018.

Income growth slows in Singapore; median salary now above S$4,500: MOM report

SINGAPORE: Workers in Singapore received a bump of 2.2 per cent in their income in 2019, according to the Labour Force in Singapore Advance Release report released on Thursday (Nov 28).The nominal median income of Singapore residents on full-time employment increased this year to S$4,563

www.channelnewsasia.com

Household income: S$9.4K,
Household income per capita: S$3K
View attachment 664249

https://www.singstat.gov.sg/-/media/files/publications/households/pp-s26.pdf

You should note how household income can go down with a decrease in marriage rates and how this can be perceived as a "decline" in the middle class and the economy. Two educated white collar workers with good jobs move out of the middle class and into a higher class. An unmarried single white collar worker may not be making as much as 2 blue collar worker so it looks like things are getting bad when it is really a social problem.

 

[rent4country]

40 million Americans are at risk of eviction without a stimulus bill
By Vanessa Yurkevich, CNN Business

Updated 12:47 PM ET, Fri August 7, 2020

New York (CNN Business)Up to 40 million Americans could be evicted by the end of this year, according to a new report published Friday by the Aspen Institute.

The report warns that the United States may be facing the most severe housing crisis in history if conditions do not change, with up to 43% of renter households facing eviction this year.

"As the data demonstrates, the gravity of this situation cannot be overstressed," said Emily Benfer, law professor at Wake Forest University School of Law and a co-author of the report. "Unless the federal government invests in eviction prevention, we are not only risking widespread eviction and homelessness, we are guaranteeing negative health outcomes, greater unemployment, educational decline, and long-term harm for renters, property owners and communities."

People of color -- particularly Black and Latino Americans -- make up about 80% of those facing eviction. Last month, 26% of Black renters and 25% of Latino renters were unable to pay rent compared with 13% of white renters, according to US Census data analyzed by the Aspen Institute.

Renters in the southern part of the country face the highest risk of eviction, with the highest percentage in Louisiana (56%), and Mississippi (58%). Up to 48% of renters in Alabama are at risk of eviction, with 45% of renters in Connecticut, Florida and Georgia.

The federal protections on evictions expired on July 24, while 30 states are without state-level protections against eviction. At least $100 billion in emergency rental assistance, with the extension of enhanced unemployment benefits, would help stave off millions of evictions, according to the report.

https://www.cnn.com/2020/08/07/economy/eviction-stimulus/index.html

Our standards of living are much higher than yours. Surely, you know this given your parents sent to you and their hard-earned money to get you educated in the US and not some Peking university.

Our people are struggling due to the virus you exported globally, purposefully, and through intentional cover-up. But the struggles are 10X worse in China. The only difference is China hides it from the world. Like the lockdown in Xinjiang where 22million are under severe lockdown and knowledge of it is slowly leaking out.

China Calls It A 'Wartime Mode' COVID-19 Lockdown. And Residents Are Protesting

Across China, life has largely returned to normal — except in the western region of Xinjiang. Some 22 million people have been under heavy lockdown since July — and they're questioning its severity.

www.npr.org

 

[rent4country]

are you wrong in the head?? the chinese premiere isn't a data machine,there is National Bureau of Statistics that collects stats and publishes it, which's used by every one.There's nothing else.

Opinion: China Has 600 Million People With Monthly Income Less Than $141. Is That True? - Caixin Global

Opinion: China Has 600 Million People With Monthly Income Less Than $141. Is That True? - The country’s hundreds of millions of low earners mean we should dismiss claims that China is no longer a developing nation

www.caixinglobal.com

It published exactly 600m people had a disposable income of below 1000 yuan ,which is great when china has 650 million almost uneligible for jobs(students and elderly).

Nope, China is very different. Everything that comes out from the politburo is carefully vetted. They don't throw out numbers even when they fudge it most of the time.

 

[Feng Leng]

Li Keqiang is like a Dan Quayle

Dan Quayle's Dumbest Quotes of All Time

A hilarious collection of famously stupid quotes and malapropisms by former vice president Dan Quayle, who famously stands by all his misstatements.

www.liveabout.com

 

[Leishangthem]

Nope, China is very different. Everything that comes out from the politburo is carefully vetted. They don't throw out numbers even when they fudge it most of the time.

proof?

 

[rent4country]

proof?

proof it does not? Everyone knows its authoritarian government that brainwashes its people from cradle to grave, censors what they can read, say and watch.

 

[Mista]

The average wage can be determined based on PPP or (nominal) GDP.
For example,
avg wage of Switzerland, based on ppp is 64K$
average wage of Switzerland based on GDP(NOMINAL) is 70k$.
And to further clarify,there are all annual wages .

Wage is not GDP; wage is a component of GDP.

You should note how household income can go down with a decrease in marriage rates and how this can be perceived as a "decline" in the middle class and the economy. Two educated white collar workers with good jobs move out of the middle class and into a higher class. An unmarried single white collar worker may not be making as much as 2 blue collar worker so it looks like things are getting bad when it is really a social problem.

Yes, that's why sometimes the figures are adjusted for household size in Singapore's and China's case.

Like in the graph in the post you quoted, SG's median household income grew by 1% last year while household income per household member grew by 4.3%; implying a decrease in average household size.