The PRC is also quickly catching up in semiconductors, and they actually build infrastructure, unlike the US. Sure, they have a massive wealth disparity and very obviously aren’t communist, but they’re doing a few things right.
So China has a smaller percentage of its population below 10k USD net worth despite having a 45% lower cost of living? That’s a pretty big difference in the number of people who can live comfortably. I’m willing to sacrifice people’s ability to be ludicrously rich for that.
The PRC is also quickly catching up in semiconductors, and they actually build infrastructure, unlike the US. Sure, they have a massive wealth disparity and very obviously aren’t communist, but they’re doing a few things right.
Guess it depends which part of the graph you are on.
So China has a smaller percentage of its population below 10k USD net worth despite having a 45% lower cost of living? That’s a pretty big difference in the number of people who can live comfortably. I’m willing to sacrifice people’s ability to be ludicrously rich for that.