(Note: BRIC refers to Brazil, Russia, India, and China. Created by a Goldman Sachs economist, the BRIC countries supposedly are rapidly growing developing countries.)
China is a place with massive regional inequality. A recent feature by The Economist magazine, titled Comparing Chinese Provinces With Countries, found a stark divide between the rich coast and the poor hinderland. Some of my previous obervations about that feature can be found here. In Shanghai and Beijing GDP per person is over $20,000 (as of 2010) – roughly equivalent to a high middle-income country.
In rural Guizhou GDP per person is almost seven times lower. Guizhou is the poorest province in China. It is the part of China the media does not visit and that China tries its best to hide. There are no skyscrapers in the rural parts of Guizhou, just decrepit stone houses dating back to the Maoist era (or earlier).
But there is something else very interesting about Guizhou: as of 2010 its GDP per person was almost exactly equal to GDP per person in India. That is, a person living in the poorest part of China is about as well off as the typical Indian.
More below.
