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How does China have a low "cost of living"? [Copy link] 中文

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Post time 2018-9-10 06:50:17 |Display all floors
This post was edited by UYA at 2018-9-10 08:05

Under capitalist economic theory, this should not be.
"Supply and demand" drive markets.
This theory does not hold true for China, why?
With the largest population in the world, China's cost of living should be thru the roof.
But its NOT.
China's low poverty rate contridicts main stream economic thought.

American capitalism, has given rise to higher poverty.
Higher homelessness
Higher cost of living
Higher violent crime rate

Time to throw out western economic policies.
China has proven this.


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Post time 2018-9-11 06:22:17 |Display all floors
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This post was edited by UYA at 2018-9-11 13:58
HailChina! Post time: 2018-9-11 06:22
It's because of exchange rates. Chinese yuan is worth bigger all compared to western currency but Ch ...

Here is the poverty map put out by the CIA: world poverty map.jpg
world poverty map.jpg




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Post time 2018-9-12 13:45:53 |Display all floors
HailChina! Post time: 2018-9-11 18:07
Why do the western capitalists allow you to claim that you lifted a Chinese out of poverty because ...

A $1.25 in China goes a lot further than in America.

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