Odd Lots · Monday, July 27, 2026
Branko Milanovic highlights a significant duality in China's current economic status, noting that while it is classified as an upper-middle-income country by the World Bank, it still exhibits characteristics of a developing nation. He points out that technologically, China is on par with the United States, yet significant income disparities persist, with some rural areas still living on less than two dollars a day, illustrating a complex economic landscape.
“First of all, I have to tell you that, for example, what you see in China, actually it happened to me like a week ago. People are very much surprised when you tell them you're now a rich country. I mean when I say, okay, by the World Bank definition, Actually this is the real conversation. You are the upper middle class income country. And they are kind of surprised.”
“But on the other hand, as you actually implied, technologically, it is at the level which is actually only similar to the United States, And that is that duality that we observe. You know, maybe the villages I have not been there, but I know that actually they are villages whare below two dollars per day. You know, we are absolute public in line. And on the other hand, we have them as a leader of the artificial intelligence so par.”