Originally posted by cdude
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$69,000,000,000 / 1,307,593,000 (population) = $52.77 per capita.
That would make the average household ~7,000 people (368,000 / 52.77)
While I am at it, going further with the article...
its total net household wealth—which includes assets such as homes and deposits—was $69 trillion in 2010, a fifth higher than the same figure in the U.S
So for the US that will be $57.5bn. [69bn / 120%(one fifth higher)]
$57,500,000,000 / 300,000,000 = $191.67 per capita in USA.
Or
$499,000 / 191.67 = 2,600 people per household.
The high asset is due to the high savings rate and the housing market(bubble). But still, that's some amazing job the communists have been doing in the past 30 years.
However, doing simple math you can safely assume that Chinese population policy is a fail
If they can fix that air, but all my friends want to drive in Beijing, what can you do? Sometimes one wishes Mao would come back and end all the madness in Beijing. Too many cars.
That's without going into details how the author figured $69bn for China being 20% more then US market.
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