Persistent poverty and a weak middle class: China’s fundamental challenge
Zheng Yongnian says China must not get ahead of itself. Recent statistics prove that 600 million people indeed earn a monthly income of just 1,000 RMB. China’s earlier reforms had led to equitable growth, but income disparity has increased with rapid economic development since it joined the WTO. As it stands, the bottom strata of Chinese society remain huge while China’s relatively small middle class continues to suffer in an inadequate social system. Rather than sweep these issues aside in a bid to glorify the country’s achievements but downplay its shortcomings, China must take a hard look at itself and focus on pursuing equitable growth.