Quotation from the Wall Street Journal:
“According to a new national survey of China’s household income, China’s richest 10% control 56.9% of household income and 84.6% of household wealth—”a level of inequality seen only in some struggling African nations,” said Gan Li, a professor at Texas A&M University who led the survey.”
This is not correct (that this inequality can only be seen in some struggling African nation). See how this distribution of wealth is in the USA:
This chart shows that the top 1% has 43 % of the nations wealth, the top 10% has 83%.
In fact the chart would show similar results in all countries. It seems to be ‘human nature’…
See the article on the American distribution of wealth here.
Categories: Americas, Asia, China, Economics, United States