Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system

Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system

The Chinese did rather well in the age of globalization. In 1990, 943 million people there lived on less than $3 a day measured in 2021 dollars – 83% of the population, according to the World Bank. By 2019, the number was brought down to zero. Unfortunately, the United States was not as successful. More than 4 million Americans – 1.25% of the population – must make ends meet with less than $3 a day, more than three times as many as 35 years ago.

The data is not super consistent with the narrative of the US’s inexorable success. Sure, American productivity has zoomed ahead of that of its European peers. Only a handful of countries manage to produce more stuff per hour of work. And artificial intelligence now promises to put the United States that much further ahead.

This is not to congratulate China for its authoritarian government, for its repression of minorities or for the iron fist it deploys against any form of dissent. But it merits pondering how this undemocratic government could successfully slash its poverty rate when the richest and oldest democracy in the world wouldn’t.

  • Resonosity@lemmy.dbzer0.comEnglish
    5·
    1 day ago

    One of their largest bridges collapsed because of a weakness in the bridge’s foundation that I think involved a landslide. You know, landslides, which can be seldom predicted ahead of time given climate change changing rainfall patterns that challenge engineers’ “100-year records”.

    The Chinese also figured out that the bridge was going to collapse ahead of time, so they evacuated all motorists. Don’t think there were any casualties.

    When was the last bridge collapse in the US? IIRC, it was the one near NY/NJ where a tanker/barge ran into a foundation column. How can you predict that? And how many people died as a result?

    These things happen. The difference between China and the US is how well both governments react to adversity.

    • CeeBee_Eh@lemmy.world
      11·
      17 hours ago

      One of their largest bridges collapsed because of a weakness in the bridge’s foundation that I think involved a landslide.

      There was another one from earlier this year that involved a number of cars falling with the bridge.

      The Chinese also figured out that the bridge was going to collapse ahead of time, so they evacuated all motorists. Don’t think there were any casualties.

      You’re right, the most recent one involved no casualties, because the day before someone walking across the bridge noticed a huge crack and posted it to Douyin. Officials noticed it and then closed the bridge.