Wealth disparities in China

A brief but eye-opening opinion from Willy Lam, a professor of China studies at Akita International University, Japan, and an adjunct professor of history at Chinese University of Hong Kong about the wealth disparity in China. That while the country is experiencing one of the strongest economic growth in the country, its poor are not feeling it’s effects.

An excerpt:

But according to official statistics, salaries and other income of workers and peasants declined to just 41.4% of GDP in 2006 (the last year when data was available) from 53% in 1998. Salaries typically equal 50% to 60% of total GDP in developed countries like the United States or Japan.

Official statistics show Chinese peasants make about one-third of what their urban counterparts earn. Tsinghua University sociologist Sun Liping estimates the standard-of-living discrepancy between cities and the countryside was actually closer to six times.

More HERE.

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