...China has transformed from a mostly agrarian society to a manufacturing powerhouse. It now accounts for almost a third of global manufacturing – roughly the same as the US, Japan, and Germany combined.
In the 40 years up to 2022, around 770 million Chinese were lifted out of poverty – representing perhaps the largest reduction in poverty in history. Consider that the country’s average per capita income, which was $89.50 in 1960, had risen to $12,556.30 by 2021.
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