Centre for Economics and Business Research says it expects this to happen half a decade sooner than it forecast a year ago

China’s share of global GDP has increased from 3.6% in 2000 to 17.8% in 2019 and will continue to grow, the CEBR said. It would pass the per capita threshold of $12,536 (£9,215) to become a high-income country by 2023.

absolutely insane

    • SnobismFirstWorldism [any]
      2·
      4 years ago

      Despite the memes, statistics actually do matter. Hard to conceptualize, I’m sure, in the West where all socialism exists in the idyllic theoretical.

                  • pinerw [he/him]
                    4·
                    4 years ago

                    China has billionaires too, and their pockets are getting lined off China’s growth as well.

                    Your take is skewing just a bit close to the Peter Singer/Malcolm Gladwell bit of “we’ve seen a huge reduction in global poverty in the last century, therefore capitalism is fundamentally fine,” just with the state taking the place of shareholders. You even talk about “pragmatism” the same way they do.

                    One of the chief problems with capitalism is the exploitation of the working class, and if you don’t think that’s a central feature of state capitalism too, you really need to examine things a bit closer.