One Step from the Global Gold Medal

Globally, China’s buying power has increased to the number two spot. Source: World Bank

Salary gaps still existed. In Beijing, people working in industries such as securities, banking and air transport obtained more than 100,000 yuan (14,245 U.S. dollars). While workers in the textile and agriculture industries had less than 20,000 yuan (2,849 U.S. dollars). source: Sina.com

Olympic Medal

An argument could be made that Americans earn more.  However, “The average annual income of Chinese farmers hit a record 5,000 yuan (732 dollars) this year as increased demand for migrant workers saw more money sent back to rural areas, state media reported Monday. Source” France 24 International News.” Source: France 24

With 1.3 billion people, a slight increase in earnings means more spending. China’s GDP to overtake U.S. by early 2020s, says analyst. Mainland to become world’s largest in about a decade, says Deutsche Bank. Source: Market Watch

See “Deng Xiaoping’s 20/20 Vision” http://wp.me/pN4pY-2o

 

This entry was posted on Friday, April 30th, 2010 at 08:00 and is filed under America, China, economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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