By whose standards. I know I know, even college professors try to teach that chinese people are making below poverty. But the thing is China isnt america and I can get a good meal for about 1 usd. Try doing that in the states. Then add to the fact 90% of people own their own house(s) that makes me think that these people arent as poor as what america likes to make people think. I dont know but not worrying about food and owning your own house seems to make me think that they are doing ok. But if you want to talk about hk or shanghai, I dont know many americans who could ever afford to buy a house there...its just crazy expensive.
Think about it this way: in the US we make, what, $3k a month? In a big city like Bejing the monthly salary is 4200rmb or $677 a month.
On average, they make 23% of what we make.
We can get a meal for $7. In the big cities, most people eat for $3 a meal in China. I know. I'm in China right now.
So their food is only 43% the price of our food. For western restaurants the prices are exactly the same there as it is here. Starbucks is twice as expensive in China.
Their cars are more expensive than in the US because the government adds a 100% tax to a lot of cars. Motorcycles included.
Rent is $800 a month here. In Beijing rent is also $800 a month.
Gas is $4.5/gal here. In Beijing it is at least $4.5/gal, but mostly more expensive.
Computers are the same price as the US if not more expensive.
Most people buy houses because they get money from parents to buy the house. And then their savings are decimated. Chinese people save a LOT and as much as this is a good habit, they don't understand financial leverage very well, preferring to pay in cash as much as they can before getting a loan, even if its at a good interest rate. A lot of cars, for example, are paid off entirely in cash.
Why a lot of people think the Chinese are well off is because of this:
China has a huge population. Even if just 1% of that population is well off, 1% of 1,344,130,000 is 134,413,000 people.
The entire US has 311,591,917 people.
So yeah, there are a ton of well off Chinese people buying houses in western countries and whatnot, but the vast majority are not in this situation. The idea that the Chinese as a whole are well off is an illusion brought on by the huge population.