Centre for Economics and Business Research says it expects this to happen half a decade sooner than it forecast a year ago

China’s share of global GDP has increased from 3.6% in 2000 to 17.8% in 2019 and will continue to grow, the CEBR said. It would pass the per capita threshold of $12,536 (£9,215) to become a high-income country by 2023.

absolutely insane

            • pinerw [he/him]
              4·
              4 years ago

              China has billionaires too, and their pockets are getting lined off China’s growth as well.

              Your take is skewing just a bit close to the Peter Singer/Malcolm Gladwell bit of “we’ve seen a huge reduction in global poverty in the last century, therefore capitalism is fundamentally fine,” just with the state taking the place of shareholders. You even talk about “pragmatism” the same way they do.

              One of the chief problems with capitalism is the exploitation of the working class, and if you don’t think that’s a central feature of state capitalism too, you really need to examine things a bit closer.

              • Zodiark
                1·
                6 months ago

                deleted by creator

                • SankaraIsMyDaddy [they/them]
                  2·
                  4 years ago

                  So China's "state capitalism" is better than the west's "bourgeoisie capitalism", I think most of us can agree on that. But China having billionaires seems indefensible. Is it good that China has billionaires, is it a temporary but necessary part of building communism, or is it something else?

                  • Zodiark
                    ·
                    6 months ago

                    deleted by creator

                  • CEO_of_TrainGang [he/him]
                    3·
                    4 years ago

                    Offering African countries loans on significantly fairer terms than they could get ever get from the IMF is bullying now