Hm, my initial thought to this question was - is china producing so much of the worlds stuff that it affects extreme poverty - like making phones that allow an Indian farmer to better sell his fruits. Is there anything to this idea?
Interestingly enough India abandoned Soviet style command economy about 15 years later than China did (under Deng XiaoPing) so if India is contributing to this, it may be the case that in both cases it was due to moving towards more capitalist economic systems.
I don’t think either country denies this. At least in India the growth is attributed to opening up the economy, privatization, reduction in licensing and bureaucracy etc.
Since the law applies it actually makes it better news. Poverty alleviation is happening at a rapid pace in both of the world’s most populous countries. I agree- it’s really, really good news.
Unfortunately any lift out of poverty in China is relational to a decline in middle class wealth in the USA
The dollar stores no longer sell items for a dollar so the critical mass has shifted. People who work at Walmart no longer can afford the items at Walmart and dollar tree is dollar-twenty-five tree.
The Chinese need to get back to making things at a lower price point and their exports reflect this. If I’m going to pay good money I don’t want the product made in China or India.
That last sentence is an interesting sentiment. I can understand that it could be from the perspective of patriotism, supporting local manufacturing, quality perception, etc.
However, you would also appreciate that a large number of migrants (legal or otherwise) are involved in local manufacturing as well. The recent Reuters news on the matter comes to mind, "How migrant workers suffered to craft the 'Made in Italy' luxury label - https://www.reuters.com/world/europe/how-migrant-workers-suf..."
Hm, my initial thought to this question was - is china producing so much of the worlds stuff that it affects extreme poverty - like making phones that allow an Indian farmer to better sell his fruits. Is there anything to this idea?
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India has pulled around 30% of its population out of extreme poverty over the last 15 years so Betteridge’s law applies here.
Interestingly enough India abandoned Soviet style command economy about 15 years later than China did (under Deng XiaoPing) so if India is contributing to this, it may be the case that in both cases it was due to moving towards more capitalist economic systems.
I don’t think either country denies this. At least in India the growth is attributed to opening up the economy, privatization, reduction in licensing and bureaucracy etc.
I don't care whether Betteridge's law applies. It's really, really good news.
Since the law applies it actually makes it better news. Poverty alleviation is happening at a rapid pace in both of the world’s most populous countries. I agree- it’s really, really good news.
Unfortunately any lift out of poverty in China is relational to a decline in middle class wealth in the USA
The dollar stores no longer sell items for a dollar so the critical mass has shifted. People who work at Walmart no longer can afford the items at Walmart and dollar tree is dollar-twenty-five tree.
The Chinese need to get back to making things at a lower price point and their exports reflect this. If I’m going to pay good money I don’t want the product made in China or India.
> any lift out of poverty in China is relational to a decline in middle class wealth in the USA
Not how trade works. America's rise didn't hollow out Europe's middle class.
America's middle class's decimation was enabled by China's rise. But it wasn't caused by it.
That last sentence is an interesting sentiment. I can understand that it could be from the perspective of patriotism, supporting local manufacturing, quality perception, etc.
However, you would also appreciate that a large number of migrants (legal or otherwise) are involved in local manufacturing as well. The recent Reuters news on the matter comes to mind, "How migrant workers suffered to craft the 'Made in Italy' luxury label - https://www.reuters.com/world/europe/how-migrant-workers-suf..."
> If I’m going to pay good money I don’t want the product made in China or India.
But if you are not paying good money, then its OK right ?
You could have just said you are xenophobic.
Save everyone some time.