The American Dream Is Alive. In China.

[nir]

Imagine you have to make a bet.

There are two 18-year-olds, one in China, the other in the United States, both poor and short on prospects. You have to pick the one with the better chance at upward mobility.

Which would you choose?

Not long ago, the answer might have seemed simple. The “American Dream,” after all, had long promised a pathway to a better life for anyone who worked hard.

But the answer today is startling: China has risen so quickly that your chances of improving your station in life there vastly exceed those in the United States.

Note:  To view the must-see graphics and charts visit the Source-Page.

 

China is still much poorer over all than the United States. But the Chinese have taken a commanding lead in that most intangible but valuable of economic indicators: optimism.

In a country still haunted by the Cultural Revolution, where politics are tightly circumscribed by an authoritarian state, the Chinese are now among the most optimistic people in the world — much more so than Americans and Europeans, according to public opinion surveys.

What has changed?

Most of all, an economic expansion without precedent in modern history.

Eight hundred million people have risen out of poverty. That’s two and a half times the population of the United States.

Not only are incomes drastically rising within families, but sons are outearning their fathers. That means expectations are rising, too, especially among China’s growing middle class.

Life expectancy has also soared. Chinese men born in 2013 are expected to live more than seven years longer than those born in 1990; women are expected to live nearly 10 years longer.

“It feels like there are no limits to how far you can go,” said Wu Haifeng, 37, a financial analyst who was born to a family of corn farmers in northern China and now earns more than $78,000 a year. “It feels like China will always be strong.”

China used to make up much of the world’s poor. Now it makes up much of the world’s middle class.

There are risks, of course, and no guarantees that China’s rise will continue indefinitely.

A prolonged economic slump could inflict major damage. And experts warn that China could fall into the middle-income trap — in which growth and earnings plateau — if it fails to address high corporate debt levels or doesn’t do more to encourage innovation. Demography is also a ticking bomb: China is racing to get rich before it gets old.

Yet for now, the economic arc seems ever upward.

Like the United States, China still has a yawning gap between the rich and the poor — and the poorest Chinese are far poorer, with nearly 500 million people, or about 40 percent of the population, living on less than $5.50 a day, according to the World Bank.

But by some measures Chinese society has about the same level of inequality as the United States. Here are the world’s major countries ordered by inequality and income mobility. (A previous version of this chart has been corrected.)

Today, the economic output per capita in China is $12,000, compared with $3,500 a decade ago. The number is far higher in the United States, $53,000.

Yet few analysts doubt where the bigger increases will come. Here’s how modern China’s per-capita G.D.P. growth compares so far:

China’s progress is especially remarkable given how the government has used social engineering to restrict where people live and how many children they have. Loosening those constraints could accelerate income growth.

This is why many people now talk about “the Chinese Dream.”

Xu Liya, 49, once tilled wheat fields in Zhejiang, a rural province along China’s east coast. Her family ate meat only once a week, and each night she crammed into a bedroom with seven relatives.

Then she attended university on a scholarship and started a clothing store. Now she owns two cars and an apartment valued at more than $300,000. Her daughter attends college in Beijing.

“Poverty and corruption have hurt average people in China for too long,” she said. “While today’s society isn’t perfect, poor people have the resources to compete with rich people, too.”

Source

[Ha91]

Haha what a double irony
American dream in China, which promises to be a socialist land but then latter abusing capitalist policies and turning bourgeosie themselves  

[knowledge-Spammer]

  poorer over all than the United States

but usa have much Debt  ?

 

plus china and russia team up now

 

soon all poorer countrys team up  for better life

 

 

 

 

[Sylence]

They don't have racist issues, they don't have gun problems, they don't have ego problem to sanction other countries and they don't eat garbage. so of course they should be more optimistic than Muricans.

ehem garbage i mean fastfood

[K7108]

3 hours ago, nir said:

But the answer today is startling: China has risen so quickly that your chances of improving your station in life there vastly exceed those in the United States.

lmfao....USA is best nation on Earth (if you are not stupid and lazy), (except for maybe Canada). Ive lived in many countries and am sure of this.

 

42 minutes ago, Sylence said:

They don't have racist issues, they don't have gun problems, they don't have ego problem to sanction other countries and they don't eat garbage. so of course they should be more optimistic than Muricans.

ehem garbage i mean fastfood

lol...this coming from you, someone who pretends to be an ex (AMERICAN) porn star, I will take what you say with all respect that is due to you, which is none. Have a nice day!

[steven36]

3 hours ago, knowledge said:

but usa have much Debt  ?

8 million rose  out of  poverty because China  Imports  10 times more than they export and now  there being  punished for it.    If your country keeps trading  with China  in 17 years  they will be in debt too. Before long everything will have a sticker made in China there  and millions of jobs in Russia will be lost too China.  Yep sounds like a great future your country has . The USA still imports more than ever but now other  countries get our business  . Everything China make is made somewhere else just as cheap and once the jobs leave they dont come back unless other countries  take on the debt nothing is free. It's other countries turn to go broke by making the same mistake we did with China I guess. Another thing as the cost of living goes up in China  because of common  wealth there stuff gets more expensive and   most businesses  will go somewhere else  and make it any how , Many have been investing in other parts of Asia to get out of China before there bubble busted  long before the trade war started . Just the trade war speeds up what was going to happen anyway.

[knowledge-Spammer]

Just now, steven36 said:

8 million rose  out of  poverty because China  Imports  10 times more than they export and now  there being  punished for it.    If your country keeps trading  with China  in 17 years  they will be in debt too. Before long everything will have a sticker made in China there  and millions of jobs in Russia will be lost too China.  Yep sounds like a great future your country has . The USA still imports more than ever but now other  countries get our business  . Everything China make is made somewhere else just as cheap and once the jobs leave they dont come back unless other countries  take on the debt nothing is free. It's other countries turn to go broke by making the same mistake we did with China I guess. Another thing as the cost of living goes up in China  because of common  wealth there stuff gets more expensive and   most businesses  will go somewhere else  and make it any how , Many have been investing in other parts of Asia to get out of China before there bubble busted  long before the trade war started . Just the trade war speeds up what was going to happen anyway.

 

[steven36]

21 minutes ago, knowledge said:

 

What the does that video have to do with what i was talking about nothing ? Before  we done all this trading  with China  and went in debt with them, we allowed Japan to dump goods in the USA so we owe Japan,  just as much as we do China.   .. Foreigners, led by the Chinese and Japanese,  only own  30% of  our debt.. 

Quote

 

Some 70% of the national debt is owned by domestic government, institutions investors and the Federal Reserve. A shade under 30% is owned by foreign entities, according to the latest information from the U.S. Treasury.

 

 

So most of our debt we owe to ourselves and no one else .  But Russia  keep trading with China they  will owe them trillions of dollars  like we do. Thing is if  China hurts us they will never get back there money it's like insurance.. 

[knowledge-Spammer]

Just now, steven36 said:

What the does that video have to do with what i was talking about nothing ? Before  we done all this trading  with China  and went in debt with them we allowed Japan to dump goods in the USA so we owe Japan just as much as we do China.   .. Foreigners, led by the Chinese and Japanese,  only own  30%  our debt.. 

 

So most of our debt we owe to ourselves and no one else .  But Russia  keep trading with China they  will owe them billions like we do.

its about usa and china still fight for things but with china and russia not so much fight just trying to getalong  and make both sides happy

not sure y u hate china for   ?

so  u pick b then yes

u have just a or b  ?

[steven36]

50 minutes ago, knowledge said:

not sure y u hate china for   ?

I don't hate China  but i have no love for them ether ..Rich people  moved  all the jobs in my area over there years ago and  millions of  people in China got out of poverty while puting millions in the USA in poverty they got better from hurting us we traded with them for  17 years  . You will see if your government fully opens up to them to trade what im saying is true.  after a few years, it want take 17 years to fell the effects from it maybe 3 years.  Bush was in there 8 years and never did nothing to  fix it and Obama was in there 8  even they begged him to  fix it and he done nothing.

 

Quote

 

“U.S. exports to China cost up to 40 percent more in China and Chinese exports to our consumers enjoy a subsidy of a similar amount. That’s unfair and unacceptable.” AAM is supporting efforts by Congress to penalize currency manipulation, and has urged the Obama administration to acknowledge that China is a currency manipulator, in the Treasury Department .

 

The impact of the China trade deficit is not restricted to the jobs displaced, the report found. Competition with low-wage workers from less-developed countries also has driven down wages for other workers in manufacturing and reduced the wages and bargaining power of similar workers throughout the economy—essentially all production workers with less than a four-year college degree, roughly 80 percent of the private-sector workforce.

 

 

 

https://www.reliableplant.com/Read/23597/US-job-loss-China

 

Trump won because he said he was going fix it  and now hes doing something to stop it . We should of  left it like it was before they made a WTO  witch was the last time our economy done good.  Our economy is not really doing good its only a short  up rise  . It's  not good were we owe no debt like it was 18 years ago . Just they made wall street in such a way that it crashing has never really badly hurt us  in like 78 years  its been up and down for that long.

[Sylence]

2 hours ago, K7108 said:

lol...this coming from you, someone who pretends to be an ex (AMERICAN) porn star, I will take what you say with all respect that is due to you, which is none. Have a nice day!

 

I never mentioned american porn star, you're retarded or something?

[Ha91]

@SylenceI think the person was referring to your bio - "ex adult film star" - however, it is a personal comment and should be apologised for. @K7108

[DKT27]

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