China’s 6.9% Growth: The Superiority of the Plan
by Fred Schmid, 1/28/2018
China has brought hundreds of millions out of poverty thanks to the opening of the economy. In 1978, 90% of the 800 million Chinese lived below the absolute poverty line of $1.90 a day. Today, forty years later, there are `only’ 43 million, three percent of the population of 1.4 billion. The hourly wage of workers has tripled since 2006 from $1.20 to $3.60.