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Journalism & Communication
Pages 6 (1506 words)
Name Instructor Course Date Wealth distribution discrepancies and its effects on Chinese People and popular Culture Introduction In the People’s Republic 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.
The People’s Republic of China has experienced a surge in the expansion of its middle class. Until the late 1990s, the average disposable income in the entire nation remained low due to the hang-over form the socialist policies that dominated the economy in the greater part of the 18th and the 19th Centuries. Wealth distribution is more unequal than the income distribution in China. In the housing segment, the quick reforms on property rights and housing in the financial markets that took place in the 1980s allowed the public to own property and accumulate wealth. 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. Urban household had a greater opportunity to accumulate in the form of financial assets. ...
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