Wealth inequality in China is rapidly approaching levels found in America. The bottom 50% of Chinese people collectively hold 6% of the wealth, with the top 10% holding 68% of the wealth. Which leads to some extreme regional poverty.
Does more work need to be done? Sure. But food insecurity isn’t a thing in China. Ever. You are guaranteed income, land, food, and farming supplies if you live in a rural area. Is it a lot compared to the top of the top? No, not really. But it’s infinitely better to be poor in China than in the US. Every poor rural Chinese person is either a land holder or is in the household of a land holder. Tax free as well under specific income thresh holds.
Remember they are taking a society that 35 years ago was the poorest and most populated country on Earth and have so far raised median living standards above all of their neighbors. There is of course more to go, because most of the country has yet to be industrialized. Hence the ‘Ghost Cities’
Wealth inequality in China is rapidly approaching levels found in America. The bottom 50% of Chinese people collectively hold 6% of the wealth, with the top 10% holding 68% of the wealth. Which leads to some extreme regional poverty.
The regional poverty has dropped. Drastically. Unlike the US, a rising tide lifts all boats.
Does more work need to be done? Sure. But food insecurity isn’t a thing in China. Ever. You are guaranteed income, land, food, and farming supplies if you live in a rural area. Is it a lot compared to the top of the top? No, not really. But it’s infinitely better to be poor in China than in the US. Every poor rural Chinese person is either a land holder or is in the household of a land holder. Tax free as well under specific income thresh holds.
Remember they are taking a society that 35 years ago was the poorest and most populated country on Earth and have so far raised median living standards above all of their neighbors. There is of course more to go, because most of the country has yet to be industrialized. Hence the ‘Ghost Cities’