Quantity of bourgeoisie is not an indication of who runs the country or which is primary, public or private property
China has the second biggest population in the world, period.
The PRC saw what happened when you cracked down too hard on wealth inequality too early in the USSR, there was significant brain drain and people took what they could elsewhere. This eventually led to decreased growth and contributed to collapse. The PRC instead allows billionaires (so long as they don’t commit crimes), and as a consequnce they now have the largest economy by PPP and second largest by GDP. It’s a “boiling the frog” approach.
They also have more millionaires per capita than Countries like Russia, but I focused on total number because a country that actually oppressed capital owners wouldn’t have any billionaires.
China ranks second in the world in number of millionaires as well as number of billionaires.
Quantity of bourgeoisie is not an indication of who runs the country or which is primary, public or private property
China has the second biggest population in the world, period.
The PRC saw what happened when you cracked down too hard on wealth inequality too early in the USSR, there was significant brain drain and people took what they could elsewhere. This eventually led to decreased growth and contributed to collapse. The PRC instead allows billionaires (so long as they don’t commit crimes), and as a consequnce they now have the largest economy by PPP and second largest by GDP. It’s a “boiling the frog” approach.
Per capita or total?
China ranks second in the world in human population, too.
They also have more millionaires per capita than Countries like Russia, but I focused on total number because a country that actually oppressed capital owners wouldn’t have any billionaires.
China’s top 1% income share is lower than US and Russia. Top 10% income share is also lower in China.