Miscellaneous News
- Thread starter bd popeye
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Keep in mind that's total millionaires. China has many more millionaires than India, Russia, Brazil, etc. A per millionaire capita chart would be much more useful and just looking at that chart, the UK seems to be a basket case since the population is 1/20th the size of China's but the number of millionaires leaving is 2x.
Yep, ever increasing taxes and getting rid of non-domiciled status has really done for the UK.
manqiangrexue
Brigadier
They need to be in a non-competitive but modern society; that's USA, Canada, EU, Australia. When they are in a hyper-competitive, hyper-modern society like China, the stress is higher because they cannot out-perform their peers no matter how hard they try so they will end up with average assets and societal value. In a non-competitive society I mentioned, any average Chinese person is suddenly the smartest most hard-working person in a group of non-Chinese even when working 40% as hard as he would in China, thus, a very average Chinese person who would remain grunt level in China with max effort can become wealthy and respected in these societies on low effort. Basically, these Chinese need to go to societies with more stupid people so they can be standout smart. Big fish in a little pond; they need to find their next little pond because they are insignificant in a Chinese ocean teeming with great white sharks and orcas.
I am not even 25 years old and even I conclude that Communism and Capitalism are two extremes and that the right way is for the government to find a balance between capital, public needs and private enterprise.
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Its not the numbers but where they are going. Russia has strict controls moving assets to non friendly countries but system is now designed that people with traditional values aka greater soft power has more money that will increase interaction with countries like Saudi. it is not explicitly stated but only wealthy people can correctly learn and teach others this unique culture.
supercat
Colonel
Talking about per capita GDP, China will break out the middle-income trap this year most likely. However, China probably already escaped the middle-income trap as early as 2018-2019, had China's GDP calculation not been so conservative.
Regarding how cautiously China tallies its GDP, Glenn used the 2023 GDP revision as an example: instead of a +2.9% adjustment, it should be at least +4.0%.
Here is the Reuters report Glenn talks about:
"Democracy" is such a useless joke.
LMAO tweet of the day:
From the New York Times:
Protests in Ladakh, India over statehood status. A BJP office has been torched.
In India, protests with smoke and fire is just business as usual.
In India, protests with smoke and fire is just business as usual.
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