6·
7 hours agoget some new material troll
☆ Yσɠƚԋσʂ ☆
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Cake day: January 18th, 2020
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huh?
90% of families in the country own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans. https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes
Chinese household savings hit another record high in 2024 https://www.wsj.com/livecoverage/stock-market-today-dow-jones-bank-earnings-01-12-2024/card/chinese-household-savings-hit-another-record-high-xqyky00IsIe357rtJb4j
People in China enjoy high levels of social mobility https://www.nytimes.com/interactive/2018/11/18/world/asia/china-social-mobility.html
The typical Chinese adult is now richer than the typical European adult https://www.businessinsider.com/typical-chinese-adult-now-richer-than-europeans-wealth-report-finds-2022-9
Real wage (i.e. the wage adjusted for the prices you pay) has gone up 4x in the past 25 years, more than any other country. This is staggering considering it’s the most populous country on the planet. https://www.youtube.com/watch?v=Cw8SvK0E5dI
The real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015, while real incomes of the poorest half of the US population actually declined during the same time period. https://www.nber.org/system/files/working_papers/w23119/w23119.pdf
From 1978 to 2000, the number of people in China living on under $1/day fell by 300 million, reversing a global trend of rising poverty that had lasted half a century (i.e. if China were excluded, the world’s total poverty population would have risen) https://www.semanticscholar.org/paper/China’s-Economic-Growth-and-Poverty-Reduction-Angang-Linlin/c883fc7496aa1b920b05dc2546b880f54b9c77a4
From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019&%3Blocations=CN&%3Bstart=2008
By the end of 2020, extreme poverty, defined as living on under a threshold of around $2 per day, had been eliminated in China. According to the World Bank, the Chinese government had spent $700 billion on poverty alleviation since 2014. https://www.nytimes.com/2020/12/31/world/asia/china-poverty-xi-jinping.html
Over the past 40 years, the number of people in China with incomes below $1.90 per day – the International Poverty Line as defined by the World Bank to track global extreme poverty– has fallen by close to 800 million. With this, China has contributed close to three-quarters of the global reduction in the number of people living in extreme poverty. https://www.worldbank.org/en/news/press-release/2022/04/01/lifting-800-million-people-out-of-poverty-new-report-looks-at-lessons-from-china-s-experience
None of these things happen in capitalist states, and we can make a direct comparison with India which follows capitalist path of development. In fact, without China there practically would be no poverty reduction happening in the world.
If we take just one country, China, out of the global poverty equation, then even under the $1.90 poverty standard we find that the extreme poverty headcount is the exact same as it was in 1981.
https://www.currentaffairs.org/2019/07/5-myths-about-global-poverty
The $1.90/day (2011 PPP) line is not an adequate or in any way satisfactory level of consumption; it is explicitly an extreme measure. Some analysts suggest that around $7.40/day is the minimum necessary to achieve good nutrition and normal life expectancy, while others propose we use the US poverty line, which is $15.
https://www.cgdev.org/blog/12-things-we-can-agree-about-global-poverty
Yeah, Huawei demonstrates that worker ownership works at scale and that a worker owned company is just as efficient and competitive as the best oligarch funded companies. It’s a threat of a good example.
Mr Ren is the founder, and the company was started as a cooperative as I recall. The total size of the company is 207,000 people, but typically people have to work at a company for a bit before becoming part of the cooperative. Hence why there non owner members.
Indeed they do
Ownership
Huawei Investment & Holding Co., Ltd. is a private company wholly owned by 151,796 of its employees and retired beneficiaries, as of December 31, 2023. Mr. Ren’s investment accounts for nearly 0.73% of the company’s total share capital.
21·2 days agothe key bit
This represents a potentially significant shift in AI deployment. While traditional AI infrastructure typically relies on multiple Nvidia GPUs consuming several kilowatts of power, the Mac Studio draws less than 200 watts during inference. This efficiency gap suggests the AI industry may need to rethink assumptions about infrastructure requirements for top-tier model performance.
Sure, meanwhile Cuba, China, Vietnam, Laos which are moving humanity forward.
The quotes you selected suggest the opposite. The US is recognizing that it lost the proxy war against Russia, and it is now willing to accept Russian terms for ending the conflict.
Critical support for the US destroying its scientific and technology base.
That’s going to accelerate the process for sure. Also worth noting that the US education system has been terrible for decades, and they’ve relied on poaching talent around the world to stay at the top.
It looks like China has just reached parity with the west this decade, and now it’s starting to visibly pull ahead. I think we’ll see the pace of that accelerate over time as well given that the very act of catching up requires faster rate of development.
Seems like this is a shocking development for a lot of people who bought into China collapse narratives floating in the west.
a good explanation of why that is https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
The reality is that capitalism is already visibly failing today, and we see mass civil unrest growing across the western world as a result. It’s possible that bandaid solutions like UBI may be attempted, but it’s pretty clear that there would need to be major restructuring of economic fundamentals going forward.
My point is that rapid explosion of automation ushered by robotics as we’re seeing happening in China will make capitalism an unviable economic system.
I love how y’all are still seething that your color revolution failed