The Chinese Economic Bubble
The Chinese Economic Bubble offers a unique perspective from two low income Chinese – a taxi driver and a construction worker – on China’s so-called economic miracle. Their commentary is interspersed with that of two Chinese economists. The latter discuss the growing Chinese real estate bubble, empty high rise buildings, rent-seeking and corruption, as well as the thousands of government officials who go to jail every year. These vignettes are interspersed with scenes of lavish media events celebrating Chinese millionaires and billionaires.
There is repeated emphasis on the immense sacrifice made by ordinary Chinese workers to create such phenomenal wealth. When the film was made in 2011, the construction worker early only slightly more ($4,200) than the national average ($4,000) for highly dangerous scaffolding work. At the time average global per capita income was $9,000. In 2014 the average Chinese wage had risen to $8,655, compared to an average global wage of $18,000.