The Wealth Gap: Identifying the Problems, Proposing Reforms
Improving China's income distribution cannot be accomplished by relying solely on adjustments to wages and the personal income tax. It needs a comprehensive plan.
In recent years, the government has adopted a number of policies to assist society's vulnerable groups, accelerating income growth for low-income residents, and narrowing the gap between high- and low-income earners. This is a good sign. But due to a number of systematic issues that have not been resolved, the income distribution landscape remains chaotic, and the absolute income distribution gap continues to grow. The resulting Gini coefficient for urban residents has entered a dangerous range. This is a very serious challenge for social justice, stability and economic development in China.
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