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Reuters: Trump says he might not renew USMCA
(www.reuters.com)
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would either of you care to share unbiased evidence supporting your statements?
Manufacturing wages sit at 113.5K CNY. Purchase power parity factor is 3.53. That means those wages are equivalent to what US $32K per year buys you in the US. The trend is for this to grow 4-6% per year. Don't know if Chinese welfare and high housing ownership is factored in.
https://tradingeconomics.com/china/wages-in-manufacturing https://data.worldbank.org/indicator/PA.NUS.PPP?locations=CN
The World Inequality Database. I'd do a TL;DR, but I'd be reinventing the wheel.
It's important to know this is about wealth, while @avidamoeba@lemmy.ca is going by income. If you're out to defend China, you could say sure, they own less and less but the government will look after them, and make sure wages stay high. If that's a good bet in light of history is another question.
Thank you. This is interesting information.
No problem! Glad to hear someone else appreciates it the same way.
One explanation would basically be cronyism in a country where there's endemic corruption and the government intervenes a lot, and however it wants. It's a pretty classic story from economies all over.
The funny thing about that is that the CCP actually tends to leave certain sectors alone, more than the West even would. It's like a hybrid Confucian/Maoist thing where they don't want to concern themselves with the merchant class. (All I have for evidence on that one is hearsay, sorry)