Posts Tagged ‘incomes’
When I was a youngster, China really scared me. I’d been told if everyone in China all jumped at the same time, the whole world would wobble. Although there hasn’t been a coordinated hop, China is without doubt, shaking up the balance of the world.
Curiosity has drawn Ellen and me to get in amongst China during this fascinating time in history. I was lucky enough to be working for an Internet company in North America during the dot-com boom, Ireland when the Celtic Tiger was roaring and New Zealand when microwave ovens were introduced, but nowhere has the rate of change been more apparent than in the Middle Kingdom. This is the biggest boom in history.
The rate of change for almost everything in China is staggering; incomes (almost 300% since 2000), car sales (32% last year), the market for art (25% last year), number of billionaires (57% last year). Even more impressive is the scale of it all – the rates are measured across 1.3 billion people! And although developing countries have a low starting point to measure growth from, significant tracts of China are long past the ‘developing’ stage. Shanghai, for example, now has a higher average GDP than parts of southern Europe.