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China’s Middle Class Is a Myth

Commentary China is the world’s second-richest country, yet its citizens rank only 72nd among the world’s wealthiest people. A nation’s wealth is gauged by its gross domestic product (GDP), the total value of all finished goods and services produced in a country during a given period. The United States boasts the world’s highest GDP at

Commentary
China is the world’s second-richest country, yet its citizens rank only 72nd among the world’s wealthiest people.
A nation’s wealth is gauged by its gross domestic product (GDP), the total value of all finished goods and services produced in a country during a given period. The United States boasts the world’s highest GDP at $25.462 trillion, with China in second place at $17.963 trillion.
While China ranks as the second-richest country globally by GDP, this metric doesn’t provide insight into the average citizen’s quality of life. To gauge this, we divide the GDP by the population to derive the GDP per capita, offering a broad approximation of the average person’s income. The United States holds the 8th position, boasting a GDP per capita of $75,269, whereas China ranks 72nd, with a per capita GDP of only $12,598. This places China significantly behind developed nations like Singapore and Japan and even lags behind countries such as Lithuania, Estonia, and Spain, all with a per capita GDP more than twice that of China…. 

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