@RnaudBertrand Closed capital account feels like a big constraint to any claim of RMB becoming a « major reserve currency » though. Not sure these financial market gimmicks will change anything. It helps, but only at the margin.
@MitraHejazipour@BrunoTertrais She is utterly, absolutely and completely out of her depth. Completely clueless. But conveniently using Iran as an instrument to her own nefarious political agenda. A plague.
@Elizabe47883246@RnaudBertrand …these can easily fall through the cracks in the survey. In that case, they would be completely missing from the sample and this would bias the median upward (since migrant workers tend to be lower-income).
@Elizabe47883246@RnaudBertrand As a matter of fact, I believe that this median figure might be overstating the real number. The hukou system creates a structural issue: hundreds of millions of internal migrants may be registered in their rural hometown but living and working in a city….
@Elizabe47883246@RnaudBertrand …A street vendor who underreports cash earnings is still below it. The ranking doesn’t change, and the median only cares about who sits in the middle. That’s precisely what makes it robust.