China middle-class income outpaces U.S., CNN reports

Via Billy

 

The average middle-class family in China earns about $8,000 less than their American counterparts, but the growth they have seen in their income dwarfs that of U.S. families, according to a CNN report.

It's what being called the "Asian miracle" -- a 70 percent bump in Chinese income from 1988 to 2008, when U.S. and other developed countries only saw a 4 percent increase. Popular opinion is that China has benefited far more from an improved trade climate than the nations with which it has strengthened commerce ties.

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