The US is at 10% unemployment with more families living with fewer funds, resulting with many people who do not have minimum food or shelter. It is unclear if China has such a problem.
Well, let's look at the economic stats, according to the CIA World Factbook:
- Unemployment is at 4.3%. Not bad, and certainly less than what we have.
- GDP per capita (PPP) is $7,600. That is hardly the rich power we think of when we think "China". It's middle-income, with vast disparities in their society. While some live in fabulous apartments in Shanghai or Beijing, others live in third-world poverty in Urumqi or Lanzhou.
I think it's clear that China has a problem with poverty generally. The US has a temporary unemployment problem; China has a structural wealth problem.
I tell them to turn to the study of mathematics, for it is only there that they might escape the lusts of the flesh. -- Thomas Mann, "The Magic Mountain"