Is the average Chinese already better off than the average American?
Not yet, but ...
In 2023 the US GDP per capita was calculated at US$81,695 while Chinese GDP per capita was calculated at US$12,614. That is of course at official exchange rates, and the Chinese exchange rate is significantly undervalued with respect to what the actual RMB can buy. To correct for this, a “Purchasing Power Parity” (PPP) calculation is used, to take into …
Keep reading with a 7-day free trial
Subscribe to Geopolitics And Climate Change to keep reading this post and get 7 days of free access to the full post archives.