China's Xi Jinping asked 'What’s so bad about deflation?' amid economic slowdown, report says
"Don’t people like it when things are cheaper?" Chinese President Xi Jinping reportedly asked his advisers.
You're at least a decade out of date, extreme poverty has been eradicated even according to the world bank, and I am not excluding the 1% here. Working class salaries have risen dramatically, the disparity has risen but the real conditions for the overwhelming majority of people have dramatically improved. Disparity is a problem, yes, but it isn't a simple one, I recommend the essay China Has Billionaires.
Overall, though, your notions are heavily outdated and data reflects that.
While it’s good data to see, I’m always suspicious of celebrating the fact that people have gone from earning $2 per day to $5 per day as “eradicating poverty.”
You can check the real wages and purchasing power parity, moreover more than doubling earnings is a large feat.
Could you point out the purchasing power data? It’s a 93 page report and I don’t see any heading on that in the table of contents.
Line go up. But that appears to be a GDP graph, not a chart of purchasing power. Am I missing something?
This is adjusted for PPP, Purchasing Power Parity.
