China to become high-income country by next year, the second country after S.Korea moved from low to high-income since the second world war

[GiantPanda]

No other low or middle income nation had ever consumed more steel, cars and cement than the world's #1 high income country.

Or had more space launches than the world #1 high income country.

Or had a quantum satellite communication system before the world's #1 income country.

And because China is still developing, it will grow a lot more and a lot faster than any of the developed nations for decades to come.

The China is already matching the rich guys when she is still poor. She will blow pass them when she is rich.

Think about this -- China already makes and uses half the world's steel today when it is not entirely industrialized like the US or Japan. It already uses 10 TIMES the steel that US uses and the US is supposedly much wealthier. And the US itself uses far more steel than anyone else -- except China.

When China starts reaching the per capita income of Shanghai or Shenzhen $31K across the board, it might start using up 75-90% of global steel (maybe to build spacecraft to colonize the moon. lol)

 

[mili]

SK has the highest suicide rate, the lowest birth rate among developed countries. The price is high.

Not only that, the high prices that SK, & the likes of Germany, Jp, paid post ww2 include their independence to usa in return for economic support.
Whereas China achieved what it did competing, even fighting & winning against usa.

 

[Song Hong]

The South Korean Chaebol are either controlled by US or Japan. China got a large SOE controlled by -- people.

That is why while Chinese salary may appears far lower than Korea, the overall material well being is not too much difference -- comparing city to city and village to village.

In China you can go Ali Baba and buy the best furniture, aircons, washing machine from Tibet on a very good price. When you are poor, CPC will fk 扶贫干部 anti poverty cadre。

 

[Viet]

Not only that, the high prices that SK, & the likes of Germany, Jp, paid post ww2 include their independence to usa in return for economic support.
Whereas China achieved what it did competing, even fighting & winning against usa.

Without the war with Vietnam the chinese would have achieved higher income sooner. Same for us Vietnam.

Sometimes stupidly wins.

 

[ZeEa5KPul]

As long as China's GDP reaches US $28 trillion, the per capita GDP will reach US $20000. In 2021, China's GDP increased by $3 trillion, and China's GDP is now $18 trillion. Reaching $28 trillion by 2030 is not difficult.

That only requires 5% GDP growth per annum. That's trivial for China to meet.

 

[REhorror]

I always feel the GDP and "high income" have become meaningless, some countries in SEA have better living standard than some "high-income" countries in the West.
Either ways, this is beating them at their own games, hope Vietnam and the rest of SEA can join too!

Without the war with Vietnam the chinese would have achieved higher income sooner. Same for us Vietnam.

Sometimes stupidly wins.

Independence and stability matter more than richness.
Japan used to be strong and rich, but because they are occupied by the US, they will never be allowed to surpass its master.

 

[S10]

Also Taiwan moved into high income country much ahead of its old ancestor

Thanks to KMT spending months looting before retreating to Taiwan in 1949.

 

[Han Patriot]

more fake news like China zero COVID police meanwhile 2 million are in lockdown in Beijing

only thing that counts is GDP per capita

South Korea GDP per capita is more than 3 times that of China

and isn't it bit embarrassing comparing 1.3 billion China to 51 million South Korea

Bhai, seriously, you gotta stop this anti China bullshit, if its factual, I am fine, but spewing shit like this makes you look stupid. I just came back from Beijing 3 days ago... It has never been under lockdown, they just scan and test, and track. We already develop the best modus operandi to contain this virus, it took us less than a month to contain it in Xuan, Tianjin etc. Using big data and AI, all you need to do is isolate certain zones within certain districts, not the whole city, let alone the whole county.

 

[MH.Yang]

hmmm...second since WW2...um I see plenty of countries on this list that seem to make the cut. I'm sure tourism wasn't high before the 1950's so many of the Carribbean Islands would be in tough shape. Oil started pumping in the middle east in the late 1930's but I'm sure the War delayed any modernization.

High income | Data

High income from The World Bank: Data

data.worldbank.org

High income

• ANDORRA
• ANTIGUA AND BARBUDA
• ARUBA
• AUSTRALIA
• AUSTRIA
• BAHAMAS, THE
• BAHRAIN
• BARBADOS
• BELGIUM
• BERMUDA
• BRITISH VIRGIN ISLANDS
• BRUNEI DARUSSALAM
• CANADA
• CAYMAN ISLANDS
• CHANNEL ISLANDS
• CHILE
• CROATIA
• CURACAO
• CYPRUS
• CZECH REPUBLIC
• DENMARK
• ESTONIA
• FAROE ISLANDS
• FINLAND
• FRANCE
• FRENCH POLYNESIA
• GERMANY
• GIBRALTAR
• GREECE
• GREENLAND
• GUAM
• HONG KONG SAR, CHINA
• HUNGARY
• ICELAND
• IRELAND
• ISLE OF MAN
• ISRAEL
• ITALY
• JAPAN
• KOREA, REP.
• KUWAIT
• LATVIA
• LIECHTENSTEIN
• LITHUANIA
• LUXEMBOURG
• MACAO SAR, CHINA
• MALTA
• MONACO
• NAURU
• NETHERLANDS
• NEW CALEDONIA
• NEW ZEALAND
• NORTHERN MARIANA ISLANDS
• NORWAY
• OMAN
• PALAU
• POLAND
• PORTUGAL
• PUERTO RICO
• QATAR
• SAN MARINO
• SAUDI ARABIA
• SEYCHELLES
• SINGAPORE
• SINT MAARTEN (DUTCH PART)
• SLOVAK REPUBLIC
• SLOVENIA
• SPAIN
• ST. KITTS AND NEVIS
• ST. MARTIN (FRENCH PART)
• SWEDEN
• SWITZERLAND
• TRINIDAD AND TOBAGO
• TURKS AND CAICOS ISLANDS
• UNITED ARAB EMIRATES
• UNITED KINGDOM
• UNITED STATES
• URUGUAY
• VIRGIN ISLANDS (U.S.)

I'm quite sure some of the Caribbean Islands listed were low income before the war. Many of them make their money on tourism...which was relatively non-existent before the War (unless the super rich few who were going there were keeping them afloat). Remember you pretty much have to fly there and commercial airline travel for the masses didn't really kick in until after the War.

What It Was Like to Fly in the 1930s​

1930's air travel to the Caribbean islands was pretty much a rich man's endeavor.

There is no high-income country in Central America, and Panama has the highest per capita GDP of US $12000. There is only one high-income country in South America, Uruguay, with a per capita GDP of US $15000. But Uruguay was not a low-income country in 1960.
In 1960, the world began to accurately calculate the per capita GDP. The standard for high-income countries in 2021 should be $12696 per capita, and the standard for middle-income countries in 1960 should be $148 per capita.
In 1960, the per capita GDP was lower than US $148, and in 2021, the per capita GDP was higher than US $12696, only two countries, South Korea and China.

 

[Hamartia Antidote]

In 1960, the per capita GDP was lower than US $148, and in 2021, the per capita GDP was higher than US $12696, only two countries, South Korea and China.

So now it's 1960...instead of post WW2.
Do you really believe some of the islands listed were anything but a bunch of poor villages pre-WW2? Sure maybe there were some sections where European merchants built some nice houses, buildings, schools, etc (you know..like they did in China) and hired the locals as servants or as field workers...but give me a break the people were poor.

This is typical of many of the islands on the list.

 

[MH.Yang]

So now it's 1960...instead of post WW2.
Do you really believe some of the islands listed were anything but a bunch of poor villages pre-WW2? Sure maybe there were some sections where European merchants built some nice houses, buildings, schools, etc (you know..like they did in China) and hired the locals as servants or as field workers...but give me a break the people were poor.

This is typical of many of the islands on the list.

If it was still a low-income country in 1960, it was certainly a low-income country in 1945.
In central and South America, only Uruguay is a high-income country. In 1945, Uruguay was not a low-income country. So the Caribbean island countries you mentioned are not up to the standard.
Or can you give another example? In addition to China and South Korea, which country was a low-income country in 1945, and with a per capita income of more than US $12696 in 2021?

 

[Hamartia Antidote]

If it was still a low-income country in 1960, it was certainly a low-income country in 1945.
In central and South America, only Uruguay is a high-income country. In 1945, Uruguay was not a low-income country. So the Caribbean island countries you mentioned are not up to the standard.
Or can you give another example? In addition to China and South Korea, which country was a low-income country in 1945, and with a per capita income of more than US $12696 in 2021?

I just posted videos of countries that are on the list from this page

World Bank high-income economy - Wikipedia

en.wikipedia.org

The same holds true for some of the island countries in the Caribbean. If I could find videos of life in these countries in the early 1940's I'm sure they would look similar to the other ones I posted.

Anybody who thinks many of these islands were not low income in the 1940's are nuts. The reason many aren't low income now is because of tourism. But back before the war tourism was close to non-existent (almost no commercial air travel back then) and many people back then were more likely exploited for low pay.

 

[MH.Yang]

I just posted videos of countries that are on the list from this page

World Bank high-income economy - Wikipedia

en.wikipedia.org

The same holds true for some of the island countries in the Caribbean. If I could find videos of life in these countries in the early 1940's I'm sure they would look similar to the other ones I posted.

Anybody who thinks many of these islands were not low income in the 1940's are nuts. The reason many aren't low income now is because of tourism. But back before the war tourism was close to non-existent (almost no commercial air travel back then) and many people back then were more likely exploited for low pay.

I do not deny that these Caribbean island countries were low-income countries in 1945. I'm just telling you that these island countries are not high-income countries in 2021.

Please tell me, which Caribbean island country has a per capita GDP higher than US $12696?

 

[vi-va]

more fake news like China zero COVID police meanwhile 2 million are in lockdown in Beijing

only thing that counts is GDP per capita

South Korea GDP per capita is more than 3 times that of China

and isn't it bit embarrassing comparing 1.3 billion China to 51 million South Korea

UK GDP per capita is higher, much higher, but real purchasing power is much lower.
British consume 1/3 of vegetables and fruits than average Chinese per capita.

I do think it's a bit embarrassing. The vegetables and fruits are too expensive that British can't eat as much as they want.

Come to China, even the poorest can buy as many vegetables and fruits as they want.

 

[REhorror]

Hmm, the above chart is showing the misleading of GDP.
Who cares how many money you have when you can't even eat fruits?