Academic Scientific JournalsTHE EVOLUTION OF INCOME AND INEQUALITY IN CHINA
DOI:
https://doi.org/10.26881/wg.2023.1.02Keywords:
China, inequality, income, economic transformationAbstract
Purpuse. Over the past decades, China has experienced high rates of economic growth, which has contributed to a significant increase in the income of the population. At the same time, social inequalities in income, property and regional dimensions began to increase. The aim of the article is to present the relationship between income and inequality in China over the last 30 years. The work is divided into three parts. In the first one, the problem of inequality in economic theory is approximated, the second part presents the evolution of inequality and income in the PRC, and the last one examines the impact of income growth on the level of inequality. The work ends with an ending in which the conclusions are presented synthetically.
Methodology. The following research methods were used in the work: literature review, analysis of existing data, statistical methods.
Findings In recent years, social inequalities in China have started to rise sharply. Based on the collected data, it can be concluded that this was not so much the result of stagnation or a decrease in income in rural areas, but rather a faster increase in income in cities. The fruits of growth have not been and are not evenly distributed in society, which means a de facto rejection of the declarative, socialist economic equality.
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