Chinese Popular Culture - Essay Example

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Chinese Popular Culture

The wealthy had the opportunity to invest in the property markets and the rural households acquired partial property rights that allowed them to accumulate wealth in the form of consumer durables. These reforms introduced discrepancies in the distribution of wealth. The Urban household had a greater opportunity to accumulate in the form of financial assets. Rural household, on the other hand, has had limited access to financial instruments and hence owning a house of lower value than their urban counterparts have. Even within the urban areas, the benefits of reform from property rights have not been shared equally. The distribution of housing wealth contributes about two-thirds of the overall housing inequality in China (Luigi Tomba, 4). The rural poor cannot afford the prices of house in an urban setting. The Urban poor as well cannot access modern housing units because due to the rent effects resulting from the methods of house acquisition. The middle class can afford apartments in urban centers. The apartments are highly subsidized with prices that bear little relationship with market values. For instance, in northern Beijing, Chaoyang District, Hopetown is one best example of a quarter developed because of the property rights reforms. The residential area is home to most of the middle-class members of the public in Beijing. This group of middle-class dwellers represents a social identity of persons who have the ability to afford home ownership.
In the PRC, the wealthy members of the society are not well educated. ...
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Summary

This essay is focused on the impact of wealth distribution on Chinese people. The author stresses that in China, the discrepancy of wealth distribution is a living fact. It is among the countries with the highest discrepancies in social stratification and the distribution of wealth amongst its people. …
Author : kundemoriah

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