https://archive.is/gNdbC
Good, but is that actually a win for the common worker?
Usually they're the first ones thrown under the bus before the top classes feel the heat.
In the past year alone, the number of dollar billionaires in China declined by 16 per cent, when the renminbi depreciated only 2.5 per cent against the dollar.
Seems like a win, but would like to see more
Indeed it is, the real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015. 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%E2%80%99s-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
It is a win. Its almost as if wins for the capitalists and the workers are diametrically opposed
