Thursday, May 27, 2010

China: Income gap rings alarm

"The Xinhua News Agency reported earlier this month that the top 10 percent of the richest people earned 23 times more than the poorest 10 percent of people in 2007 - up from 7.3 times in 1988.

Cong Yaping and Li Changjiu, economic analysts with Xinhua's Center of World Studies, warned that China's Gini Coefficient - an indicator of income inequality - has exceeded 0.5, threatening poor economic security, a weaker development outlook and social instability, the Xinhua-owned Economic Information Daily newspaper reported last week."

Read all the article: Global Times


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