The protests in HK weren't due to failing economic conditions either. And having been to HK recently, I can tell you it's far more developed than it was before being repatriated.
China obviously has problems like any human society, and it's far from perfect. However, they demonstrably have not had the kinds of economic crashes we have in the west and the standard of living keeps rising steadily. And here are some numbers to put things in perspective.
90% of families in the country own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans. https://www.forbes.com/sites/wadeshepard/2016/03/30/how-peop...
The real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015, while real incomes of the poorest half of the US population actually declined during the same time period. https://www.nber.org/system/files/working_papers/w23119/w231...
A lot of that was just propaganda, like the famous ghost city subway station story which then turned out to just be basic planning https://timesofindia.indiatimes.com/world/rest-of-world/chin...
The protests in HK weren't due to failing economic conditions either. And having been to HK recently, I can tell you it's far more developed than it was before being repatriated.
China obviously has problems like any human society, and it's far from perfect. However, they demonstrably have not had the kinds of economic crashes we have in the west and the standard of living keeps rising steadily. And here are some numbers to put things in perspective.
90% of families in the country own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans. https://www.forbes.com/sites/wadeshepard/2016/03/30/how-peop...
Chinese household savings hit another record high in 2024 https://www.wsj.com/livecoverage/stock-market-today-dow-jone...
Social mobility in China being far better than in the US https://www.nytimes.com/interactive/2018/11/18/world/asia/ch...
The typical Chinese adult is now richer than the typical European adult https://www.businessinsider.com/typical-chinese-adult-now-ri...
The real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015, while real incomes of the poorest half of the US population actually declined during the same time period. https://www.nber.org/system/files/working_papers/w23119/w231...
From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019...