Every Tuesday and Thursday, Inkstone Index features one important number about China to give you insight into the rising power.
Two-thirds: How much of the nation’s wealth was controlled by China’s richest 10% in 2015.
In around 40 years, China has risen to become the world’s leading emerging economy. But the country’s exponential economic gains have been poorly distributed at home, creating a wealth gap almost as big as that found in America.
When the former leader Deng Xiaoping opened China’s closed market to the world in the late 1970s, he famously embraced the idea that the Chinese Communist Party would “let some people get rich first.”
Decades later, while most Chinese people have se
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Oct 06, 2020