China’s wages grow by an average of 5% a year, 7% for the poorest workers. Compounding, wages double every 15 years.

The purpose of a system is what it does.

Didn't read, but I'll just translate that headline to std. US propagandish. "China stole our wages !" /s

Inflation is low at currently ~1.2% and that's also the average of the last ten years. Food inflation is negative. So this really increased living standards.