Thom Hartmann: China's middle class grows while America's disappears

[thomhartmann]

Eamonn Fingleton, Economics writer; Author of "In the Jaws of the Dragon" joins Thom Hartmann. In America - the income for the bottom 90 percent of Americans has decreased over the last decade. In China - income for an average family has increased tenfold since 1980. Is the middle class in China really booming - and if so - what should Americans learn from China's economic growth?

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[demosincebirth]

1. With China having 1.3 billion people, their middle class percentage wise is smalller than Mexico's.

[Franker65]

2. Real Growth or Illusion?

I'd say the Americans should really hesitate before trying to learn anything from China's economic growth. The American middle class took a huge amount of time to develop whereas the Chinese middle class developed exceptionally quickly and there are real fears that a real estate bubble could destroy all that hard work. Statistics show that China still has a high level of poverty despite the relative success of the middle class recently.