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That's one way of interpreting it. Another could be that it shows a large wealth gap, when considering the average along with the median.
I think key is that the median is basically the same now with China's trajectory going up and European going down.
It found that Chinese median wealth per adult, at $26,752, now outstrips Europe, where the average adult has a wealth of $26,690. The European figure takes into account the whole of the continent, which includes many less wealthy nations in its southern and eastern regions.
The average Chinese citizen has a wealth of $26,752
It found that Chinese median wealth per adult, at $26,752
I don't believe that the average and median values are the same. I don't think those who wrote the article understand the difference.
The language they use is imprecise, but that does appear to be the median wealth in China right now https://www.globaltimes.cn/page/202209/1276225.shtml
Yes, the median wealth is noted in the article. The average wealth, however, is not. At this point I don't think you understand the difference either. Thank you for the conversation, let's try again later on a different topic.
I understand the difference between median and average perfectly fine. What I'm saying is that the median is what's relevant because that's what represents the wealth of a typical person. The problem with using average is that it doesn't account for inequality meaning that high average wealth could be in practice hoarded by a handful of rich people while the rest of the population remains poor.
Yep, if they gave us an average without showing us the distribution, then that would be meaningless
Median is an 'average' (it is the mean of ranks), just not the arithmetic average ('mean') of the values. Text is correct - no need to get upset because you did not get it. Anyway, the numbers are meaningless as they do not tell us how wealth is distributed (e.g., what is the interquartile range - central 50%) and we cannot conclude anything about the wealth of the majority (>50%) of people.
Like the difference between City of London and village in Transnistria, or something like that?
B-but my Liberal democracy :(
Uhh... erm....
🇨🇳
Don’t use cringe sources like business insider, we are supposed to be better than this
If you're disputing the figures then please provide an alternative source with different figures and explain why you believe those figures to be more reliable. From what I saw, the figures for median wealth reported in business insider are consistent with other sources.
Would you shut up, man? Funny to see you pivoting between calling sources too mainstream or disinformation. Almost like you're just whiny as fuck.
Would you shut up, man?
Simple answer: no.
It's obvious you've taken a personal dislike to the guy you're flaming, just for noticing there is real popular unrest in Europe. Like how because AFD wants to trade with Crimea and sees Germany is being fucked by the US, those ideas are now "right wing ideas" to you, verboten.
These right wingers are what "we" (not you, removed, listen carefully removed 😬😬😬) call "fake populists". They are actually more connected to reality than your skittish ass, flinching in the dark whether you see "fake news" or "mainstream news".
A lot of swaering for such a simple message. I'm sorry if i hurt your feelings.
You give me what's called secondhand embarassment actually, removed. A simple message should be easy enough to refute, but I guess that's above your abilities. At least you reassured yourself by saying something, right?
If you have any specific questions or concerns, please don't hesitate to ask and I will do my best to help.
The reason why it seems like trickery and hypnosis when right wingers identify a popular sentiment ignored by you liberals is that you are only interested in reassuring yourself. You have no political strategy. You seek comforting ideas. You have no arguments of your own, but you have purity tests.
No of course I don't have any questions for you. Go back to /r/worldnews and suffer, removed.
From the original report:
