China: Increasing poor population cause Inadequate domestic spending power & Government debt crisis

On June 28, at a press conference held by the Communist Party’s 100th anniversary event, the CCP’s Finance and Economics Committee announced that at the beginning of the Communist Party’s rule, the national income per capita was only dozens of…

China: Increasing poor population cause Inadequate domestic spending power & Government debt crisis

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On June 28, at a press conference held by the Communist Party’s 100th anniversary event, the CCP’s Finance and Economics Committee announced that at the beginning of the Communist Party’s rule, the national income per capita was only dozens of dollars, while currently China’s national income per capita has exceeded US$10,000.
The news quickly hit China’s social media Weibo, with nearly 10,000 comments under the official Weibo account of the state news agency. 99.9% of which were from netizens who questioned and ridiculed the figure.
Some netizens asked, “Is this dividing Jack Ma’s daily income by 1.4 billion people? ” Another netizen wrote that it must be a printing error. The RMB must have been misprinted as USD.
#Chinaeconomy#Chinadebt#Chinapopulation
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