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Chinese economic - Admission/Application Essay Example

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Summary
China is portrayed as a growing economy with rapid growth in household incomes. The chapter provides a chronological progress of the level of income through literature and tabulation. The growth…
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Chinese economic
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Chinese economic

Download file to see previous pages... The rural Chinese population has low incomes compared to urban areas and therefore experience low living standards.
This chapter provides illumination on the reasons for the rise in the level of poor population despite the growth in economy and increase in income. It is imperative to note that overall, the growth in the Chinese economy has immensely reduced the poverty level. However, the economic growth pattern indicate that there is low rural poverty alleviation with more rural population living below the poverty line. We can therefore conclude that there is a very high rate of inequality in income distribution among the Chinese population which has led to some people being very rich while others languishing in poverty. When looking at the progress of poverty elevation in china, some questions that linger include; why does the Chinese data on poverty alleviation differ from those of the World Bank? With the persistent economic growth in china, why has poverty alleviation been slow since 1996? In my opinion, the gap between the rich and poor was trigger by reforms since before reforms, nobody was able to own any income-generating capital and therefore, the equality level was very ...Download file to see next pagesRead More
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