Is China poor?
I’m assuming China is going by an ideology that If you can’t afford it, than you should make it. People are always complaining about cheap Chinese knockoffs but do they have a choice considering they’re probably trapped with low paying manufacturing jobs. If ungrateful people don’t like it, they should be more carefull about the things they buy.
- oldprofLv 712 months agoFavorite Answer
No it's not poor. By most metrics it is a so-called emerging nation. It's gross GDP is the largest in the world, ahead of the US, which ranks number two in the world. But it's GDP per capita is still significantly lower than the US and G7 nations.
It's annual growth rate has been about 6% but it's recently slowed down. Not sure where it is now. By comparison the US growth is 2 to 3% typically.
So if I can use the class taxonomy, China is middle class but striving to become upper class like the US and G7 nations. Definitely not lower class and poor.
You should know that although the Communist Party is the only legal party in China, 80% of their enterprises are based on supply and demand, capitalistic. Some of those capitalist enterprises are US companies like KFC, Baskin Robbins, Hard Rock Cafe, and McDonalds, which you'll find all over China in the big cities.
Only their largest of enterprises are socialistic and owned and operated by the government. And by definition, they are socialist, not communist, even though the party is the Communist Party.
- 9 months ago
Actually China is rich,meanwhile Chinese is poor,but some Chinese governing China is really very very very rich
- 11 months ago
Not at all. Per capita income is high.
- Anonymous12 months ago
China is leaving the US in the dust.There seems to be a future for China, whilst, The US is left behind becoming a third world country.
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- TorukoLv 612 months ago
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- ZirpLv 712 months ago
Lots of chinese people are poor. A small percentage is very rich. That's capitalism for you
- babyboomer1001Lv 71 year ago
China used to be poor. They are very wealthy now - way ahead of the U.S. in technology.
- Aussie BattlerLv 71 year ago
Analysts are suggesting that the newest sign of disquiet in their economy is in the banking sector. One bank there has already had problems and the last thing they need is a run on their banks internally.
- MarkLv 51 year ago
Most countries have a mixture of wealthy and poor people. China's no different.
They have millions slaving in factories for $1 - $2 a day, but also, their younger wealthier types are the fastest rising of all new-to-wealth on the planet.