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- cross-posted to:
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Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system
The Chinese did rather well in the age of globalization. In 1990, 943 million people there lived on less than $3 a day measured in 2021 dollars – 83% of the population, according to the World Bank. By 2019, the number was brought down to zero. Unfortunately, the United States was not as successful. More than 4 million Americans – 1.25% of the population – must make ends meet with less than $3 a day, more than three times as many as 35 years ago.
The data is not super consistent with the narrative of the US’s inexorable success. Sure, American productivity has zoomed ahead of that of its European peers. Only a handful of countries manage to produce more stuff per hour of work. And artificial intelligence now promises to put the United States that much further ahead.
This is not to congratulate China for its authoritarian government, for its repression of minorities or for the iron fist it deploys against any form of dissent. But it merits pondering how this undemocratic government could successfully slash its poverty rate when the richest and oldest democracy in the world wouldn’t.
Well…
The War on Terror set our efforts to crank up hostility against China back by a decade.
American politicians made a big show of hating Japan during the 90s for “stealing our jobs” during their economic boom. Being a lapdog of the West didn’t save them from sanctions or racial animus or unfounded accusations of market manipulation.
If China was treating the west back then like it does now, it would definitely not have been as desirable to move production there. Afaik there hasn’t been a single event that changed everything, so the number 15 is a bit random; but the attitude of the west towards China and vice versa definitely shifted. Also Russia was for a short moment not seen as an enemy state (although Russia might have considered the west as their enemy all along)
Japan is a good example of how this doesn’t have to be a two way street. Could also be that US and Europe (where I’m from) don’t always have the same perception, so could be i wrote the west where Europe would’ve been more accurate.