Post: #52

(03-10-2017 01:23 PM)Disco_Volante Wrote:  All the companies and jobs that have moved to Mexico I'm surprised it's not in better shape. Speaks to their dysfunction.

When China took in tons of foreign manufacturers. they built the biggest middle class in the world.

Mexico's middle class is nearly 50% of the population. China's is roughly 10%.

http://www.investopedia.com/articles/mar...-class.asp

China has the "biggest" middle class because they're the most populated country in the world and their "middle class" is defined as only about $10,000 to $30,000 a year.

Meanwhile over 300 million Chinese -- half of their entire working population -- make less than $10 per day.

"But the middle class that dominates its consumer market still only accounts for a tiny fraction of that number: less than 2 percent of workers earn enough to pay income tax, according to Goldman Sachs."

https://www.bloomberg.com/news/articles/...-and-spend

To be clear, I'm NOT denying that Mexico is dysfunctional. But China is hardly a well-oiled machine itself.