China on verge of high-income status after wealth measure jumps 20%

[beijingwalker]

China on verge of high-income status after wealth measure jumps 20%​

March 1, 2022

China’s per capita gross national income grew by a fifth in 2021, coming within striking distance of the World Bank’s threshold for a high-income country, Nikkei reported, citing government data.

Chinese GNI rose 20% in nominal terms to $12,438 per capita. The World Bank regards $12,695 as the minimum line for a high-income country.

China on verge of high-income status after wealth measure jumps 20%

COVID recovery and strong yuan drive GNI gains, but inequality still a challenge

asia.nikkei.com

 

[beijingwalker]

(Two Sessions Voice) China's per capita GDP expected to reach high-income status by end of 2022​

2022-03-07 19:06:14Ecns.cnE

Special: 2022 Two Sessions
(ECNS) -- "China's per capita GDP last year reached $12,000, just $150 away from that of a 'high income country'. Therefore, it is highly likely to reach that of a high-income country in 2022," said Yang Weimin member of the Standing Committee of the Chinese People's Political Consultative Conference (CPPCC) and vice director of the Economic Committee of the CPPCC.

China's economy continued to grow despite the pandemic in 2021. China's gross domestic product (GDP) grew by 8.1 percent year-on-year and reached 114 trillion yuan (about $18 trillion), registering an annual increase of 13 trillion yuan, which equals the total GDP of 2003.

"This is remarkable," said Yang.

(Two Sessions Voice) China's per capita GDP expected to reach high-income status by end of 2022: Yang Weimin

www.ecns.cn

 

[Han Patriot]

Shit, we must keep a low profile. I guess the period of keeping a low profile while building your strength is over. 10 year ago US don't even see is as a peer....

 

[beijingwalker]

Feels like China just leaped middle income category, jumping directly from low income to high income, western media used to say that China will be stuck in the so called "middle income trap" once she was in this group, where is this "trap"?

 

[tower9]

Feels like China just leaped middle income category, jumping directly from low income to high income, western media used to say that China will be stuck in the so called "middle income trap" once she was in this group, where is this "trap"?

It does seem like China was stuck for a long long time as low income, then a few years ago it entered middle income, now it is approaching the high income category very fast.

Although I think a more accurate description of high income should be a per capita above $20K at least.

 

[casual]

It does seem like China was stuck for a long long time as low income, then a few years ago it entered middle income, now it is approaching the high income category very fast.

Although I think a more accurate description of high income should be a per capita above $20K at least.

No, should be $64K. Actually the title is meaningless. What's important is to surpass the US.

 

[retaxis]

We should bide our strength until our economy is bigger than US + EU.

 

[CAPRICORN-88]

Is the tag so important?

 

[beijingwalker]

Is the tag so important?

But the government official stance on this is rare, I think the government still wants to keep China's developing country status for reaping some benefits.

 

[Viet]

Shit, we must keep a low profile. I guess the period of keeping a low profile while building your strength is over. 10 year ago US don't even see is as a peer....

Congrats

Meanwhile Russia is a pariah she will suffer for decades to come. Russia is the most sanctioned country on earth. Putin makes his country worse than North Korea and Iran combined.

Interesting news, Russia invasion stalls before Kiev because the red army purchased cheap tires and other cheap parts from China.

 

[beijingwalker]

Interesting news, Russia invasion stalls before Kiev because the red army purchased cheap tires and other cheap parts from China.

Despicable fake smearing news, the western media is trying to throw all dirt on Russia, fake news now are infested on the internet.

 

[Viet]

Despicable fake smearing news, the western media is trying to throw all dirt on Russia, fake news now are infested on the internet.

The news comes from CNN bro. Very credible report. The tires are bursting.
Putin will not be amused.
He will blame China for the defeat.

 

[Han Patriot]

Congrats

Meanwhile Russia is a pariah she will suffer for decades to come. Russia is the most sanctioned country on earth. Putin makes his country worse than North Korea and Iran combined.

Interesting news, Russia invasion stalls before Kiev because the red army purchased cheap tires and other cheap parts from China.

Lol. Yes blame the Chinese tires eh. One thing I know is China seldom compromise on military quality, its the death penalty in China to **** up military supplies.

But hey Ukrainian putting shrapnel on the roads is not to be blamed right? We will keep Russia alive, no worries, the Russians are smart and they are resource rich, with enough infrastructure and time for their own companies to incubate, I believe they will turn out alright. The Russians thrive when faced with adversity, it is what that unites the people, the more the West sanctions, they more united the people become. The trade war actually galvanised Chinese even the moderate ones, they see it as a civilizations struggle, no more about freedom or democracy and shit like that. Xi's support level is at its peak now matey.

 

[mmr]

The news comes from CNN bro. Very credible report. The tires are bursting.
Putin will not be amused.
He will blame China for the defeat.

It's all over the media. Not just CNN. Ppl saying its because of corruption within Russian army itself.

 

[beijingwalker]

The news comes from CNN bro. Very credible report. The tires are bursting.

Only in your part of the world, the name of CNN is mud in China.