Covid. "Leftover" women. Childlessness as a hip new lifestyle. No matter what you throw at China's population, it will simply not stop growing, 1.4 ONE billion now, despite predictions for decline.
Some minds boggle trying to picture 1.4 billion Chinese faces. Others boggle picturing 2.8 billion pockets. This post is for them, the news that median income, disposable included, is growing apace. Sure, the national median disposable income was a measly $4,600 in 2020, albeit an almost 5% increase, YoY. But it was $5,800 for urban residents, and $10-11k for residents of Beijing, Shanghai, and Guangzhou, the fabled "first-tier" cities.
"Spending was down in key sectors such as tourism & transportation, obviously," says Edward Lehman. "But the trend is to an aging population, with more and more disposable income, particularly in first tier cities. representing a good 75m people. There is incredible deviation from the mean there, too, so consider them global consumers."