Comte de Sats Germain on Nostr: For anyone with strong opinions about China, there's one basic fact you have to ...
For anyone with strong opinions about China, there's one basic fact you have to understand to understand anything about China :
The purchasing power of the average Chinese has doubled every seven years for the past 40+ years. Run the numbers. Check it.
Purchasing power is 'how much shit you can buy on your monthly paycheck.' It cuts out the noise from inflation and exchange rates (or it tries to).
Doubled. Every seven years. On average. Doing the same job. Doubled. And then doubled again. And again. And again.
The purchasing power of the average Chinese has doubled every seven years for the past 40+ years. Run the numbers. Check it.
Purchasing power is 'how much shit you can buy on your monthly paycheck.' It cuts out the noise from inflation and exchange rates (or it tries to).
Doubled. Every seven years. On average. Doing the same job. Doubled. And then doubled again. And again. And again.