1: Life expectancy in China has improved dramatically since the mid-20th century. Meanwhile, America’s life expectancy has declined over the past 3 years. Today, China’s life expectancy is greater than America’s.
Half the decline in life expectancy in America is attributable to Covid. Meanwhile, strict Covid lockdowns in China have helped preserve lives.
2: The winners of today won’t be the winners of tomorrow. The table below shows the Fortune 500 top 10 by revenue in 1990 and 2022. Only one company exists on both lists.
Which top companies in 2022 will be replaced over the next 30 years?
3: Despite being a huge total source of CO2, per capita emissions in China remain far below those of the US. As it lifts more of it’s population into the middle class, however, China’s per capita emissions will grow causing total emissions to rise dramatically. Offsetting this to an extent will be the long-term decline in China’s total population, which may have already commenced.
4: Despite the arguments against off-shoring American jobs, anyone buying clothes, toys and electronics over the past 20 years has benefited immensely from low-cost Chinese manufacturing. Where would prices be if this deflationary force didn’t exist? Just look at non-offshorable sectors, like education and medical care, to get a sense.