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Yep, I definitely feel better already, its only $248.5bn more money to reach > 50%! /s


The article is talking about cumulative of those poorer 50%, heck I, living in a third world country am richer than 60% of Americans too.


I get that reference.


I expect people to predict this will cause the downfall of China.

People had been attributing causes to the downfall of China.

"He is best known for his book The Coming Collapse of China (2001), in which he argued that the hidden nonperforming loans of the "Big Four" Chinese State banks would likely bring down China's financial system and its communist government and China would collapse in 2006, 2011, 2012, 2016, & 2017. Critics say that Chang has destroyed his own credibility by making wrong predictions repeatedly."[0]

Here, Gordon Chang predicted that demographics will be the downfall of China.[1]

Does anyone want to add other causes to the downfall of China?

Being an author trying to make some money off people's wishful thinking is not a bad idea though.

[0]: https://en.wikipedia.org/wiki/Gordon_G._Chang

[1]: http://nationalinterest.org/feature/chinas-self-inflicted-de...


It's actually really frustrating every time I see Gordon Chang on CNN or some other news channel as an "expert" on China. He makes these Harold Camping like predictions about how China will fail by a specific year, none of which have obviously come true.

I actually wonder if people who don't know his history of poor predictions that well see his last name "Chang" and assume that he has some inside knowledge or knows more about China than the actual pundit.


CNN wants to catch your attention long enough to look at the next advertisement. They don't care about whether Gordon Chang's predictions turn out true or not.

Predictions of doom and gloom are more exciting than 'most likely systems will muddle through and status quo stays king'.


China is already in a downfall. Did you not notice the stock market crash, strict capital control, prevention of outward investment by companies, outlaw of bitcoin, etc? Don't rule out the messege, just because of the messenger. Here are some others:

- China central bank warns against 'Minsky Moment' due to excessive optimism (non gordon chang) http://www.reuters.com/article/us-china-congress-debt-minsky...

- China’s debt surpasses 300 percent of GDP https://www.cnbc.com/2017/06/28/chinas-debt-surpasses-300-pe...

- Why China Lost About $3.8 Trillion To Capital Flight In The Last Decade https://www.forbes.com/sites/insideasia/2017/02/22/china-cap...

- S&P says downgraded China as credit growth still too fast http://www.reuters.com/article/us-china-economy/sp-downgrade...


Age. I thought it's percentage at first.


Which begs the question, "What is love?".


Baby don't hurt me.


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