Okay that’s fair, let me try that again: Even on a per capita basis China is doing pretty well for itself. You can also compare other countries here (this is basically a poverty index so the lower it is the better).
I mean, that’s how you get good standards of living. You can also look up its GDP per capita, which isn’t high but is definitely respectable. In that case though you can look up China’s HDI. There’s just no metric by which China is failing the majority of its citizens (emphasis on majority; of course Uighurs for example will feel differently).
It also doesn’t punish an export economy without domestic consumption
That doesn’t make sense though. Exports bring in money which can be used to import stuff or for domestic consumption. A strong export economy leads to good standards of living.
That’s not correct. E.g. Germany has consistent exported way more goods and services than it has imported. A healthy economy is not an automatism from being good at shipping stuff off shore. There is no gain from building a car if you buy the materials ship the car and have money left over. You do actually have to spend that money. There is no good in owning money. That’s how economies die and cost of e.g. housing explodes.
I mean, Germany has one of the highest standards of living in the developed world despite being weighed down by East Germany so clearly it’s working out for them. Stuff like the housing crisis is hitting the whole developed world all at once, so it’s not like Germany is special there.
Okay that’s fair, let me try that again: Even on a per capita basis China is doing pretty well for itself. You can also compare other countries here (this is basically a poverty index so the lower it is the better).
Real gdp growth is not a good metric of wealth. It’s a metric of progress(speed).
It also doesn’t punish an export economy without domestic consumption, which is what I find worrying/exploitative.
I mean, that’s how you get good standards of living. You can also look up its GDP per capita, which isn’t high but is definitely respectable. In that case though you can look up China’s HDI. There’s just no metric by which China is failing the majority of its citizens (emphasis on majority; of course Uighurs for example will feel differently).
That doesn’t make sense though. Exports bring in money which can be used to import stuff or for domestic consumption. A strong export economy leads to good standards of living.
That’s not correct. E.g. Germany has consistent exported way more goods and services than it has imported. A healthy economy is not an automatism from being good at shipping stuff off shore. There is no gain from building a car if you buy the materials ship the car and have money left over. You do actually have to spend that money. There is no good in owning money. That’s how economies die and cost of e.g. housing explodes.
I mean, Germany has one of the highest standards of living in the developed world despite being weighed down by East Germany so clearly it’s working out for them. Stuff like the housing crisis is hitting the whole developed world all at once, so it’s not like Germany is special there.