I think it will be slowly replaced in the main cities just to improve on air pollution. The likely replacements will be natural gas and nuclear where hydropower isn't available. China could never fully replace coal with nuclear unless they had a closed fuel cycle. Without that they would need to import a lot of uranium which would be yet another problem. Well, China is working on that though. They have a program for building fast reactors and fuel reprocessing plants.
Chinese Economics Thread
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I think it will be slowly replaced in the main cities just to improve on air pollution. The likely replacements will be natural gas and nuclear where hydropower isn't available. China could never fully replace coal with nuclear unless they had a closed fuel cycle. Without that they would need to import a lot of uranium which would be yet another problem. Well, China is working on that though. They have a program for building fast reactors and fuel reprocessing plants.
I guess Australia will just have to age their wine and pray it ages well.
Most wine does not age well.
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Red wines don't age well.
Explains why Australia is in panic. Let them sweat.
China's middle class incomes: average vs. median
"NSB data revealed that in the first three-quarters of this year the median income for the nation’s entire working class stood at 20,512 yuan ($3,117), or 2,279 yuan ($346) per month, 15% lower than the per capita average figure announced earlier by the bureau."
A couple of points:
1. This is still quite modest overall. Even after applying the GDP deflator (PPP), this comes out to about $6,800 per year. In contrast, the median wages of the US worker is $49,800 per year (). China's median income is about 13.7% of the US.
2. Comparison of GDP per capita is much closer. China: $16,785, U.S. $65,281, according to the . China's per capita GDP (PPP) is 25.7% of the US's.
3. For the average to be higher than the median suggests that the income distribution is skewed towards the rich, as a small number of very wealthy households will skew the average higher, but will not change the median.
This means that in comparison to the US, the average Chinese is not capturing as much of the country's GDP in income. This has implications for a dual circulation strategy or any that relies on the domestic market. A greater share of economic output must find its way into the hands of the average worker.
"NSB data revealed that in the first three-quarters of this year the median income for the nation’s entire working class stood at 20,512 yuan ($3,117), or 2,279 yuan ($346) per month, 15% lower than the per capita average figure announced earlier by the bureau."
A couple of points:
1. This is still quite modest overall. Even after applying the GDP deflator (PPP), this comes out to about $6,800 per year. In contrast, the median wages of the US worker is $49,800 per year (). China's median income is about 13.7% of the US.
2. Comparison of GDP per capita is much closer. China: $16,785, U.S. $65,281, according to the . China's per capita GDP (PPP) is 25.7% of the US's.
3. For the average to be higher than the median suggests that the income distribution is skewed towards the rich, as a small number of very wealthy households will skew the average higher, but will not change the median.
This means that in comparison to the US, the average Chinese is not capturing as much of the country's GDP in income. This has implications for a dual circulation strategy or any that relies on the domestic market. A greater share of economic output must find its way into the hands of the average worker.
@gadgetcool5 is something else. Talk about cherry picking data to make some kind of point regarding China's economy. In fact, I still don't know what he's trying to say? Is getting to say that China is not as high in income per capita as China claimed?
All the time I've been following this thread, I never thought anyone claimed China has high GDP per capita! What most people are saying that China's overall GDP is expecting to overtake USA overall. In fact most if US know per capita is still a long way to go. Which is why we all know China's growth will continue will into the next few decades.
And as far as average and median blah blah blah. Don't he know these measurement are all averages. Even a junior high students knows the difference between median mean and mode. Lol
He's saying that China's GDP per capita is skewed by higher salary people and that US GDP per capita isn't skewed by the rich when it is. But he would never know because he doesn't live in the US and is an angry indian troll.
He used average salary ($50k+) of US to compare with median salary of China. His source for the US salary is wrong, I assume intentionally. Actual media salary is in the $30k's.
Here's the actual US government source, 52k for average (he claimed this to be the median), 34k for median salary.:
I had no idea the USA median was so low at $34k
These days when a gpu costs $2k (scrapler prizing since Nvidia only does fake paper launches with near zero or no inventory now)
what exactly can you do with $34k a year after paying taxes to the Uncle, and getting gutted by other overhead expenses like insurance, etc etc