Gross Domestic Product (Gdp) Per Capita In China 1985

Many economists care more about China’s per capita GDPhường., or income per person, than the aggregate measure. The key takeaway is that Đài Loan Trung Quốc remains a poor country, despite its phenomenal headline economic growth over the past four decades.

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CHICAGO – Economic reporting about Trung Quốc focuses far too much on total GDP. và not enough on per capita GDP, which is the more revealing indicator. And this skewed coverage has important implications, because the two indicators paint significantly different pictures of China’s current economic and political situation. They also focus our attention on different issues.

A quichồng tìm kiếm through all English-language news outlets in the ProQuest database for the ten-year period from 2011-21 shows that trăng tròn,915 articles discussed China’s GDP., whereas only 1,163 mentioned its GDPhường. per capita. The difference was proportionally even larger aước ao the eight largest and most elite papers, including the Thủ đô New York Times, Wall Street Journal, & Washington Post, where 5,963 articles referred khổng lồ Chinese GDP & only 305 discussed the per capita measure.

In 2019, China’s GDPhường. (measured at market exchange rates) of $14 trillion was the world’s second largest, after that of the United States ($21 trillion), with Japan ($5 trillion) in third place. Aggregate GDP reflects the total resources – including the tax base – available to a government. This is helpful for thinking about the size of China’s public investments, such as in its space program or military capacity. But it has much less bearing on Chinese people’s everyday lives.

Most economists therefore care more about China’s per capita GDP, or income per person, than the aggregate measure. And the key takeaway here is that Đài Loan Trung Quốc remains a poor country, despite its phenomenal headline GDP growth over the past four decades.

China’s per capita GDP in 2019 was $8,242, placing the country between Montenegro ($8,591) & Botswamãng cầu ($8,093). Its per capita GDP.. in purchasing power parity (PPP) terms – with income adjusted khổng lồ take trương mục of the cost of living – was $16,804. This is below the global average of $17,811 & puts Đài Loan Trung Quốc 86th in the world, between Suriname ($17,256) & Bosnia và Herzegovimãng cầu ($16,289). In contrast, GDP. per capita in PPPhường terms in the US & the European Union is $65,298 & $47,828, respectively.

To understand the extent of poverty in China, we also need to consider the degree of inechất lượng across its large population. China’s current màn chơi of income inechất lượng (measured by the Gini coefficient) is similar lớn that found in the US và India. Given that 1.4 billion people live in China, the country’s inequality implies that there are still hundreds of millions of impoverished Chinese.

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The Chinese government has said that 600 million people have a monthly income of barely CN¥1,000 ($155), equivalent khổng lồ an annual income of $1,860. Of these people, 75.6% live in rural areas.

To leave sầu the ranks of the world’s poorest countries, China must significantly boost the incomes of a population about the size of that of Sub-Saharan Africa, và with a similar average income of $1,657. And the Chinese government is aware that it must vị so in order lớn maintain popular tư vấn. All else being equal, it will be preoccupied for at least another generation by the need to increase domestic incomes.

But all else is rarely equal in politics, và governments can also bolster their popular tư vấn in ways that vì not foster economic growth. The Chinese government, for example, emphasizes its role in defending the population against external or impersonal forces, such as earthquakes or the COVID-19 pandemic. It has also recently adopted an assertive sầu stance regarding territorial disputes in the South Đài Loan Trung Quốc Sea & along the Chinese-Indian border.

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Western countries have sầu responded to lớn these và other Chinese actions in a variety of ways. The US is ramping up its military presence in the South Trung Quốc Sea, while Đài Loan Trung Quốc also faces the threat of economic sanctions & a boycott of the 2022 Beijing Winter Olympics because of human-rights concerns.

Experience suggests that sanctions, boycotts, & military pressure are unlikely lớn achieve their intended aims. Russia, for example, has faced Western economic sanctions since 2014 – & US President Joe Biden’s administration recently announced further punitive measures – but the Kremlin has persisted in its policy of occupation in eastern Ukraine’s Donbas region. Likewise, the boycotts of the 1980 Moscow Olympics and the 1984 Games in Los Angeles had little effect on either side in the Cold War.

On the contrary, military aggression often provokes a political backlash in the targeted country & strengthens support for its government. Economic sanctions can have sầu similar effects và solidify public opinion behind more hardline policies.

The backlash effect is easily observed in Trung Quốc nowadays. Many Chinese think the West is seeking to reassert political dominance & feel painful reminders of colonialism và World War II, when China lost 20 million people, more than any country except the Soviet Union. The strong emotions triggered by Western policies toward China overshadow the fact that some of China’s actions are troubling countries like India, Vietnam, và Indonesia, which also suffered brutal colonial policies.

These emotional reactions also distract attention from important domestic issues, not least the need to boost incomes. China’s poor, most of whom probably care little about border disputes or international sporting events, will bear the brunt of any collateral damage.

To engage effectively with China, other countries should remember: contrary khổng lồ first impressions, it is not an economic monolith. Behind the world’s second-highest GDP are hundreds of millions of people who just want lớn stop being poor.

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