How Bad Is Life In China?
Probably not nearly as bad as you imagine
Over the past few decades, global poverty has shrunk enormously. We tend not to discuss it very much, but the number of people living in extreme poverty has shrunk by 850 million in the last 40 years.
China is responsible for 70% of that reduction — not including, I might add, those lifted out of poverty in Africa, South America and elsewhere in Asia thanks to Chinese investment.
China is now one of the world’s greatest economic success stories.
There are other poor countries that have enjoyed similarly remarkable growth (Japan, Singapore, Taiwan and Spain, to name a few); but nowhere else has brought this prosperity to so many people.
China represents about 18.5% of the entire global population.
It has become of the world’s most influential countries not just because of its size, but also thanks to its increasing affluence. It’s now only about $200 per year away from joining the World Bank’s category of high-income economies.
