travisporter9 hours ago
Hm, my initial thought to this question was - is china producing so much of the worlds stuff that it affects extreme poverty - like making phones that allow an Indian farmer to better sell his fruits. Is there anything to this idea?
aaron6956 hours ago
[dead]
dyauspitr13 hours ago
India has pulled around 30% of its population out of extreme poverty over the last 15 years so Betteridge’s law applies here.
LarsDu8811 hours ago
Interestingly enough India abandoned Soviet style command economy about 15 years later than China did (under Deng XiaoPing) so if India is contributing to this, it may be the case that in both cases it was due to moving towards more capitalist economic systems.
dyauspitr11 hours ago
I don’t think either country denies this. At least in India the growth is attributed to opening up the economy, privatization, reduction in licensing and bureaucracy etc.
AnimalMuppet13 hours ago
I don't care whether Betteridge's law applies. It's really, really good news.
dyauspitr12 hours ago
Since the law applies it actually makes it better news. Poverty alleviation is happening at a rapid pace in both of the world’s most populous countries. I agree- it’s really, really good news.
486sx338 hours ago
Unfortunately any lift out of poverty in China is relational to a decline in middle class wealth in the USA
The dollar stores no longer sell items for a dollar so the critical mass has shifted. People who work at Walmart no longer can afford the items at Walmart and dollar tree is dollar-twenty-five tree.
The Chinese need to get back to making things at a lower price point and their exports reflect this. If I’m going to pay good money I don’t want the product made in China or India.
JumpCrisscross6 hours ago
> any lift out of poverty in China is relational to a decline in middle class wealth in the USA
Not how trade works. America's rise didn't hollow out Europe's middle class.
America's middle class's decimation was enabled by China's rise. But it wasn't caused by it.
salesynerd7 hours ago
That last sentence is an interesting sentiment. I can understand that it could be from the perspective of patriotism, supporting local manufacturing, quality perception, etc.
However, you would also appreciate that a large number of migrants (legal or otherwise) are involved in local manufacturing as well. The recent Reuters news on the matter comes to mind, "How migrant workers suffered to craft the 'Made in Italy' luxury label - https://www.reuters.com/world/europe/how-migrant-workers-suf..."
lenkite2 hours ago
> If I’m going to pay good money I don’t want the product made in China or India.
But if you are not paying good money, then its OK right ?
hackable_sand5 hours ago
You could have just said you are xenophobic.
Save everyone some time.