Friday, February 26, 2010
BOY Are They Going To Be Mad When They Find Out They Can't Have All The "Stuff"! Narrowing The Gap Between The Rich and Poor In China
WORLD NEWS: "China's Efforts Narrow Gap Between the Rich and Poor," by Andrew Batson, Wall Street Journal, 3 February 2010.Good chart on income inequality in select countries (Gini index):
(In his commentary about it, Barnett is just plain wrong assuming this is good for the other nations and especially the planet due to rising affluence.)
Just wait till the same per-capita percentage of the Chinese population can afford to buy cars and drive them like Americans do.
According to numbers published in Harpers Magazine a number of years back, if the per-capita hypotheses held true, at that time, the global supply of oil would have lasted FIVE DAYS. It's probably a shorter period of time now that the major oil companies have all dramatically re-calculated their reserves downward and they still can't replace current usage with oil-being-pumped-at-the-wellhead.
Further, according to a BBC interview with the Chinese transportation minister a few years ago, that percentage should be reached by 2040 (using simple math).
Just wait till those billions of Chinese citizens find out they've been sold a 'bill of goods' (all the Western trappings of so-called 'civilization') they will never be able to attain.
BOY! Are They going to be mad!.
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