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Shannon Tiezzi, The Diplomat: Report: China’s 1 Percent Owns 1/3 of Wealth
A report from Peking University warns that China’s social inequality is getting worse.
A new report from one of China’s top universities found that wealth and income inequality in the country is getting steadily worse. According to the report, one-third of the country’s wealth is owned by the top 1 percent of households, while the bottom 25 percent account for only 1 percent of wealth.
That data was revealed in a 2015 report from China Family Panel Studies, an annual survey aimed to shed light on the “wellbeing of the Chinese population.” The survey, launched in 2010, is conducted by the Institute of Social Science Survey at Peking University and funded by the Chinese government.
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WNU Editor: And almost all of them are loyal members of the Chinese Communist Party.
3 comments:
"loyal members of the Chinese Communist Party." Their loyalty to the party is just a smidgeon behind that of their bank accounts. Which makes it a three for one for Xi. Makes it easy for him to charge corruption in his campaign for consolidation of power and get a lot of money too boot. It's a technique as old as totalitarianism. You support the regime it's easy to get rich, but then you and your money are easy targets. Re; Tiberius, etc.
The Chinese are behind the curve. In the world as a whole, the top one percent one 50 percent of the world's wealth. We in the west need to be looking in the mirror more critical before we bash the Chinese.
http://fortune.com/2015/10/14/1-percent-global-wealth-credit-suisse/
Xi is an angel compared to Mao.
Mao wiped out whole route armies for political advantage.
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