Engel's coefficient refers to the proportion of food expenditure to total expenditure. Engel's Law refers to the law that the proportion of food consumption expenditure to total household consumption expenditure decreases with the improvement of family living standards. (forget the specific topic, 45% is better than 50%)
According to the above definition, which of the following statements is correct?
Americans generally spend 20% of their total expenditure on food, while Chinese spend 50% on food, indicating that Americans have a higher quality of life than Chinese.