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Wealth Inequality in China - Essay Example

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A rapid economic rise of China has created, at least within the minds of many analysts, and economic miracle; the likes of which the world has very rarely seen. However, commensurate with this rise, the reality of the fact is that not all individuals within society are…
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Wealth Inequality in China
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Wealth Inequality in China

Download file to see previous pages... For instance, as the People’s Republic of China releases new specific each and every year the show and increased average annual income, this figure is ultimately skewed as a result of the fact that extraordinarily wealthy individuals within Chinese society are impacting upon the way in which such measurements are made and revealing a situation that is not quite the case. As a function of seeking to understand the wealth gap China to a more effective degree, the following analysis will discuss some of them made and causal factors for this wealth disparity; as well as some of the recommended changes that could ultimately seek to promote economic well-being and sustainment of a greater number of individuals within Chinese society.
One of the first, perhaps the most important, factor has to do with the fact that China is ultimately struggling to build a middle class. For decades, the People’s Republic of China has begun moving away from hard-line communist ideology is more was society. However, as a direct result of this shift, those individuals that are best positioned to reap the benefits of this change are necessarily those that have close connections to the government for those that were already wealthy at the time in which a level of privatization to be developed. Furthermore, individuals within the lower class of relatively little if any upward mobility that provide access to the middle class is the upper class at a later date. However, it should not be understood that nepotism and/4 corruption with respect to privatization is the largest reason for why China continues to exhibit a particularly horrific wealth gap.
Another relevant issue is with respect to culture. Ultimately, Chinese culture is one that places a very high on saving. Accordingly, as money is half down from generation to generation, the compounding impact of this, especially with regard to wealthier families, is an economic dynamic by which the very wealthy leave extraordinarily ...Download file to see next pagesRead More
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