The Chinese economy will likely surpass the size of the U.S. economy by all measures by the end of 2015. But to surpass us in terms of per capita income and standard of living, the Chinese will need much more than what they a currently producing. That's going to take a lot of power in the form of electricity. This is why the Chinese Government is today hoarding copper. Copper is needed to build up your electrical grid. In the book "Good as Gold: How to Profit from the Coming Boom in Cooper" this is clearly explained. If you are a serious investor it's a must read. You'll never look at a penny the same way again. Available free on Amazon kindle unlimited.
China from the looks of it, is the nation in focus right now, from building materials to everything else, go China or go home ....i will definitely check out that book, too bad i haven't started investing in the stock market
China is a strong emerging economy. In 10 years it will most likely overcome big players in terms of economics, standard of living and investment.
China is a great nation and I think it can be possible to surpass the standard of living of us. Very soon China will be one of the strongest nation in the world.
Anything is possible. We have so many products in my region made from china. They are cheaper and of good quality. China has opened its doors to businessmen and women to do business with them. They are welcoming and ready to dialogue how both parties can benefit from associating with each other. Yes indeed their standard of living gets better with every day ended.
It's going to take a really long time. Compare these figures: How long will it take before the Chinese catch up? Another thing is when China no longer can sell cheaper products [when workers start getting paid better] their economic growth will stop or slow down significantly. China can hoard copper all they like same way Russia is hoarding gold right now but if that's how they plan to get rich fast I don't think it will work.
I think that it's really hard and subjective to measure the standard of living. There is a lot of poverty in the US, I think that no one questions that, but at the same time there is a lot we don't know about China, so how can we compare?
In China today there are more people living in poverty, than there people in the United States. With over a 1.2 billion citizens nearly 400 million of China's people live in poverty. The poverty rate in the U.S. is just about 20% or 60,000,000 people. So, China has a lot of economic development to do before she can surpass the U.S. in standard of living.
Noticing the poverty is indeed a big red flag. But if they somehow balance it, i'm sure china can and will surpass USA.