“In 2024, the per capita disposable income nationwide was 41,314 yuan, an increase of 5.3 percent over that of the previous year or a real increase of 5.1 percent after deducting price factors”
Tell me how growing your disposable income by 5% a year is “not being able to afford anything”
Yeah, people always seem to forget that it’s about what you can purchase, not the $ amount. Similar to living in a city vs a rural area, the cost of food/housing varies widely even in the same country.
How much money do you think the median American takes home these days with cost of living and suppressed wages? -2000 in credit card debt once the budget gets tallied?
Umm do you want to break those numbers down for the bottom 75% or earners? Or the median? I believe that is just the billionaire holding up the statistic that the Fed is presenting. Also, those numbers were in billions representing the whole country not an individual in thousands……
I’d expect the Chinese numbers to be way more skewed than the US ones. Too bad we can’t rely on their statistics.
Either way, both numbers are for the average. The US one is for September, when it was still reliable; the Chinese one is certainly a gross overestimation, but for December, and we don’t know if it moved up or down from there yet.
My aunt and uncle went on a state sponsored trip and got the impression that they have a stronger middle class than we do. From what I can piece together I’d tend to agree. But ya I guess we’ll know for sure with more hindsight.
Gotta love the two biggest economy’s in the world and you can’t find/trust good data
The problem is this is an easy thing to lie about, so their official numbers are certainly complete fabrications. And they still weren’t bold enough to fabricate something that put them above the US.
Well considering we had a huge head start, I really don’t value the comparison that much anyway.
Let’s look at it a different way, is their middle class growing while ours is contracting? Let’s consider the trend and not the specific point in time.
This post is misinformation.
Statistical Communiqué for 2024 on national economics by the National Bureau of Statistics of China:
“In 2024, the per capita disposable income nationwide was 41,314 yuan, an increase of 5.3 percent over that of the previous year or a real increase of 5.1 percent after deducting price factors”
Tell me how growing your disposable income by 5% a year is “not being able to afford anything”
So, in average they had 5k dollars to spend on everything that isn’t food and rent… And you are proposing they are rich?
When you can get a fucking delicious and nutritious bowl of noodles and vegetables for 5 yuan or a metro/bus ride for 3 yuan in the USA let me know.
Yeah, people always seem to forget that it’s about what you can purchase, not the $ amount. Similar to living in a city vs a rural area, the cost of food/housing varies widely even in the same country.
They take yuan in the USA now??? Opens my Bank of America app
Truly you are part of the 1%
How much money do you think the median American takes home these days with cost of living and suppressed wages? -2000 in credit card debt once the budget gets tallied?
23k dollars:
https://fred.stlouisfed.org/series/DSPI
Umm do you want to break those numbers down for the bottom 75% or earners? Or the median? I believe that is just the billionaire holding up the statistic that the Fed is presenting. Also, those numbers were in billions representing the whole country not an individual in thousands……
I’d expect the Chinese numbers to be way more skewed than the US ones. Too bad we can’t rely on their statistics.
Either way, both numbers are for the average. The US one is for September, when it was still reliable; the Chinese one is certainly a gross overestimation, but for December, and we don’t know if it moved up or down from there yet.
My aunt and uncle went on a state sponsored trip and got the impression that they have a stronger middle class than we do. From what I can piece together I’d tend to agree. But ya I guess we’ll know for sure with more hindsight.
Gotta love the two biggest economy’s in the world and you can’t find/trust good data
They official numbers are worse than the US:
https://worldpopulationreview.com/country-rankings/gini-coefficient-by-country
The problem is this is an easy thing to lie about, so their official numbers are certainly complete fabrications. And they still weren’t bold enough to fabricate something that put them above the US.
Well considering we had a huge head start, I really don’t value the comparison that much anyway.
Let’s look at it a different way, is their middle class growing while ours is contracting? Let’s consider the trend and not the specific point in time.