China's Richest 1 Percent Hold 70 Percent Of Their Nation's Private Wealth

civfanatic

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Yea, since almost everyone in India is dirt poor, there isn't much inequality relatively speaking. Where there is greater total wealth, there is often also a greater inequality, especially since the vast majority of the world is now capitalist.
The countries with the lowest GINI scores are the rich West and North European countries.

Regardless of India's low per capita income, a low GINI score is always good since it means less socioeconomic friction due by wealth disparities. Countries like China with high wealth disparities might have a revolution on their hands if they're not careful (ironic isn't it?).
 

J20!

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I think the lower the number the better? All European and Scandinavian countries are low numbers
and developing countries high numbers. The closer to 25 the better India is 36 and China 48 which means
there is a bigger middle class in India than China
.
Ray should've never burdened you with the title of "world renown economist". I apologize for him.

China has the worlds largest middle income population, with over 300 million households with an annual income between 10000 and 60000 Dollars.

Why do you think China is the largest market for American, Japanese, Korean, Vietnamese etc. goods? There's a reason American carmakers sell more cars in China than they do in the U.S.

http://money.cnn.com/2012/04/25/news/economy/china-middle-class/index.htm

How big is the Chinese middle class?
A. It is estimated that it's more than 300 million -- already larger than the entire population of the United States.
About 25% of the population is middle class. It's about 50% of the urban population.
Q. How did the middle class climb the economic ladder?
A. A lot of it is entrepreneurship. With China's economy growing over the last 20 to 30 years, there have been a lot of business opportunities.
Some people still go to college and then get good jobs. A lot of multinationals employ these young college graduates. They pay relatively better than Chinese companies. Many foreign companies are contributing to creating the white-collar middle class.
Chinese state companies also employ a lot of people. Their income has more than tripled over the last 10 or 15 years.
 
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Yusuf

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Dont' want to defend Chinese wealth distribution system, because apparently it fails to curtail the widening gap between the rich and the poor in China.

, boasting about their so-called middle class, I am amused.

Enlighten me, my Indian fellows, how do you define middle-class in India? And how many of Indians are qualified for middle-class?
My fellow Indians? When did you take up Indian citizenship?
 

J20!

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My fellow Indians? When did you take up Indian citizenship?
He said "my Indian fellows". You do see the difference between those two phrases don't you?
 

nimo_cn

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Faber: India's Middle Class Will Soon Be Larger Than America's - Business Insider

India's middle class is estimated at 170 million (half the population of the US), and the country has one of the lowest vehicle-penetration rates in the world. Given that India also has one of the youngest populations—half of its 1.1 billion-plus people are less than 25 years old, compared to 42% in Brazil, 36% in China, and less than 30% in the developed nations—car sales will undoubtedly continue to soar in the next few years. In this respect, we should also take into account that India's population will continue to grow rapidly and will exceed China's population before 2030.

...

McKinsey estimates that by 2025, India's middle class (households with disposable incomes of from 200,000 to one million Rupees a year) will increase to close to 600 million people, or more than 40% of the population.



Read more: Faber: India's Middle Class Will Soon Be Larger Than America's - Business Insider
170 million middle-class, but only 121 million Internet users. That is simply hilarious as I have always pointed out.

More than 50 million Indian middle-class can't even afford a computer and internet connection, how could people even believe in this sh!t?

India Has 121 Million Internet Users, 39 Million 3G Subscribers: Report - MediaNama
 

kickok1975

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China's wealth distribution is outrageous and the country is heading to revolution. Most Indian is dirt poor and it is in worse shape than their Chinese counterpart. That's the fact no need to argue.
 

Ray

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It's called an honest mistake. But it seems that on DFI moderators launch unprovoked personal attacks against other members purely based on their race, calling us names like "zombies", "barbarians", etc etc. Who exactly do I report you to? Yourself?
Hans are people based above the Yellow River as per the Chinese tomes.

The remainder who were captured, as the Chinese imperialism enlarged, and were assimilated as Hans, were called 'Barbarians' by the Han Chinese themselves!

The Chinese classics use compounds of these four generic names in localized "barbarian tribes" exonyms such as "west and north" Rongdi, "south and east" Manyi, Nanyibeidi "barbarian tribes in the south and the north," and Manyirongdi "all kinds of barbarians." Creel says the Chinese evidently came to use Rongdi and Manyi "as generalized terms denoting 'non-Chinese,' 'foreigners,' 'barbarians'," and a statement such as "the Rong and Di are wolves" (Zuozhuan, Min 1) is "very much like the assertion that many people in many lands will make today, that 'no foreigner can be trusted'."

The Chinese had at least two reasons for vilifying and depreciating the non-Chinese groups. On the one hand, many of them harassed and pillaged the Chinese, which gave them a genuine grievance. On the other, it is quite clear that the Chinese were increasingly encroaching upon the territory of these peoples, getting the better of them by trickery, and putting many of them under subjection. By vilifying them and depicting them as somewhat less than human, the Chinese could justify their conduct and still any qualms of conscience.

This word Yi has both specific references, such as to Huaiyi 淮夷 peoples in the Huai River region, and generalized references to "barbarian; foreigner; non-Chinese." Lin Yutang's Chinese-English Dictionary of Modern Usage translates Yi as "Ancient barbarian tribe on east border, any border or foreign tribe." The sinologist Edwin G. Pulleyblank says the name Yi "furnished the primary Chinese term for 'barbarian'," but "Paradoxically the Yi were considered the most civilized of the non-Chinese peoples.

Wiki
 

Ray

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Chinese propaganda does make everyone not being dirt poor.

In fact, if one went by what the Chinese write, then their poor would equate with the richest of those in Europe.



 
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170 million middle-class, but only 121 million Internet users. That is simply hilarious as I have always pointed out.

More than 50 million Indian middle-class can't even afford a computer and internet connection, how could people even believe in this sh!t?

India Has 121 Million Internet Users, 39 Million 3G Subscribers: Report - MediaNama
Internet usage is a criteria for middle class?

India to have 3rd largest number of Internet users by 2013 - Times Of India

Indian govt is going to make internet free all over India

Free Internet all over India? | Sankaranand blog

Tablets made for low end markets some to be given free to school children

$35 computer taps India's huge low-income market - CSMonitor.com

How to check internet speed for mac software browser upload download sending receiving data: Students to get free computer laptops tablets in UP high school college exams pc free online mobile India tv pc
 
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China's wealth distribution is outrageous and the country is heading to revolution. Most Indian is dirt poor and it is in worse shape than their Chinese counterpart. That's the fact no need to argue.
This is because there is no free enterprise Communist party members own all the businesses
and control the money supply.
 
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China has the worlds largest middle income population, with over 300 million households with an annual income between 10000 and 60000 Dollars.

Why do you think China is the largest market for American, Japanese, Korean, Vietnamese etc. goods? There's a reason American carmakers sell more cars in China than they do in the U.S.

The powerful middle class in China - Apr. 25, 2012
This is not shown in the GINI score that a chinese member posted. This thread is wealth distribution.
Demographics are against China this is the peak for China.
 

Armand2REP

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$10k per houshold means the husband, wife and other family members have to get to $10K. That isn't middle class. The actual number of individuals making $10k or more is only in the tens of millions.
 

roma

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This thread is wealth distribution. Demographics are against China this is the peak for China.
demographics are strongly in favour of india for at least the next 40 yrs i.e the next two generations but ideas a nd social norms are of paramount importance

india should take measures now and along the way to ensure that the family and demographics are always protected

there are too many examples of small countries which go the "rich" road and end up with declining populations and whose very existence is now in question
 

nimo_cn

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internet usage is not a criteria, but somehow it reflects the economy status of the familiy. If a family can't afford a PC, instead is relying on government subsidized internet facility, it isn't qualified for middle-class, unless you are telling me that it is true that 50 million Indian middle-class don't even have access to internet.

if my statistics about Indian internet users is true, then I must say your statistics about Indian middle-class is fake.
 

nimo_cn

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This is not shown in the GINI score that a chinese member posted. This thread is wealth distribution.
Demographics are against China this is the peak for China.
Your fellow claimed that 'there is a bigger middle class in India than China.', and J20 proved he was wrong! Are you even gonna deny that?
 
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internet usage is not a criteria, but somehow it reflects the economy status of the familiy. If a family can't afford a PC, instead is relying on government subsidized internet facility, it isn't qualified for middle-class, unless you are telling me that it is true that 50 million Indian middle-class don't even have access to internet.

if my statistics about Indian internet users is true, then I must say your statistics about Indian middle-class is fake.
Have you heard of Mobile internet?? Many people use their phones for acccessing internet.
Many members on this forum included. PC's are a thing of the past.

India Has 346 Million Mobile Internet Subscribers, Airtel Leads

India Has 346 Million Mobile Internet Subscribers


 
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Your fellow claimed that 'there is a bigger middle class in India than China.', and J20 proved he was wrong! Are you even gonna deny that?
Chinese economy is Bigger than Indian economy,again the wealth distribution of the middle
class is below India. Chinese have been faking all their numbers about the economy for years
why would i believe this? I refuse to believe a chinese midldle class person makes more than
some one in the middle class in USA. 60,000 was the number I believe he gave, Real numbers below.
From his link

China's middle-class boom - Jun. 26, 2012


, with most of the wealthier residents residing in the cities. In rural areas, the average disposable income drops to $1,000, but in China's largest cities like Shanghai, Beijing and Shenzhen, it's around $12,000 a year, per person.


if 1,000$ is counted as middle class in China then 800 million+ Indians can be counted as middle class
 

nimo_cn

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Have you heard of Mobile internet?? Many people use their phones for acccessing internet.
Many members on this forum included. PC's are a thing of the past.

India Has 346 Million Mobile Internet Subscribers, Airtel Leads

India Has 346 Million Mobile Internet Subscribers


Yes, I have heard of mobile internet, but it doesn't weaken my point.

Desktop internet usage is still one of the primary form of internet usage.

The fact that India has more mobile internet substribers once again proves my point that many Indians simply can't afford fix-line internet connection, because mobile internet usage is cheaper.

How about making this simple, you tell me another country where the middle-class can't even afford a computer?
 

aeroblogger

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I think that computer literacy is a bigger issue than internet affordability - middle class people probably can afford a computer and internet, but if they don't know how to use it, it's a waste of money.
 
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It is also a cultural thing for many Indians cell phones are much much bigger priority
than buying a computer.
 

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