this post was submitted on 29 Oct 2024
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sino

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[–] [email protected] 24 points 2 weeks ago (1 children)

The benefits of economic growth have benefited actual working people instead of just being hoarded by the oligarchs as they happens in the west.

Chinese households have record high savings in 2024 https://www.wsj.com/livecoverage/stock-market-today-dow-jones-bank-earnings-01-12-2024/card/chinese-household-savings-hit-another-record-high-xqyky00IsIe357rtJb4j

The real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015, while real incomes of the poorest half of the US population actually declined during the same time period. https://www.nber.org/system/files/working_papers/w23119/w23119.pdf

From 1978 to 2000, the number of people in China living on under $1/day fell by 300 million, reversing a global trend of rising poverty that had lasted half a century (i.e. if China were excluded, the world’s total poverty population would have risen) https://www.semanticscholar.org/paper/China’s-Economic-Growth-and-Poverty-Reduction-Angang-Linlin/c883fc7496aa1b920b05dc2546b880f54b9c77a4

From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019&locations=CN&start=2008

[–] [email protected] 24 points 2 weeks ago (1 children)

if China were excluded, the world’s total poverty population would have risen

China is pretty much responsible for all gains against poverty globally for like the last 50 years

[–] [email protected] 6 points 2 weeks ago (1 children)

I heard in American media that it was actually capitalism that did that

[–] [email protected] 6 points 2 weeks ago (1 children)

yeah but if it were capitalism then you'd see similar gains against poverty in India, but... woops