China’s wealthiest got richer during the first year of the pandemic, says a recent report that follows an earlier study that indicates the top 2 percent of the population owns 80 percent of the country’s total wealth. As of Jan. 1, 2021, wealthy Chinese families—those with total assets exceeding approximately $942,000—had a combined wealth of…
Statistics Show Gloomier Outlook in Upward Mobility Among China’s Poor
In China, it has been increasingly difficult for people from poor families to climb up the socioeconomic ladder than those from rich families. This condition is in direct correlation to the uneven distribution of wealth ande growing gap between the rich and the poor. This is the conclusion of a research project done by economists…
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