Americans Struggling More than Chinese to Afford Food
A Gallup study tells a sad tale of how the American standard of living has taken a hit in the last few years. The article at Gallup says notes that 6% of Chinese found it hard in the past year to purchase enough food for their families compared to 19% of Americans.
The American percentage more than doubled from 9% in 2008 – prior to the recession, reflecting the tremendous impact and loss of wealth the recession had on Americans’ wealth.
In addition, fewer Chinese per capita are struggling to find adequate housing in 2011 than in 2008, the last time the survey was administered. In 2011, 16% of Chinese could not afford adequate housing, compared to 21% in 2008.
More Americans per capita now struggle to find enough food
In the United States, the reverse trend occurred, with 11% of Americans unable to afford adequate housing in 2011, sharply up from 5% in 2008.
As wages stagnated and unemployment rose in the recession, China did not suffer any periods of negative growth with an effective stimulus program.
As U.S lawmakers bicker , China is forging ahead with singular purpose to overtake the U.S as the world’s largest economy.
When they do – despite fears of ‘overheating’ their economy, they will have done so with less wealth inequity than the U.S., despite not having a democracy.
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