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Chinese Economic Growth

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Running head: ECONOMIC GROWTH AND INEQUALITY 1
ECONOMIC GROWTH AND INEQUALITY
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ECONOMIC GROWTH AND INEQUALITY 2
Chinese Economic Growth and the resultant socio-economic inequalities
Introduction
Over the past three decades, the economy of China has been on a co0nstant upward
spiral, elevating the country to become one of the world’s top economies. The same has been
attributed to the skilled labor that the country developed in the build up to the economic surge.
The rapid growth in the economy caused excitement with great expectations of improved living
standards for the citizens. In essence, the same came to pass as the overall GDP of the country
generally improved with the minimum wage and income also increasing. The excitement derived
credence from the assumption that the increased economic standing would increase and as such,
citizens stood the chance of getting rich faster. Further, the reality of a trickle-down effect also
raised the hopes of the population of a happier and wealthier lifestyle.
However, when all the attention was focused on the increasing GDP and the burgeoning
middle class and upper class citizenry, the lower class population was forgotten, and that led to
the increase in the discrepancy between the rich and the poor. This study interrogates the
inequalities that arose as a result of the social class segregation, with a segment focusing on the
factors that may have contributed to the inequalities. Finally, the paper enumerates the real and
perceived consequences of the inequalities, as may have been experienced by the country.
The social and economic inequalities
Regional inequalities
The country, due to the economic and social policies adopted before and subsequent to
the economic surge, has experienced a split with respect to wealth distribution. Seven provinces

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Running head: ECONOMIC GROWTH AND INEQUALITY ECONOMIC GROWTH AND INEQUALITY Name Course Tutor Date 1 ECONOMIC GROWTH AND INEQUALITY 2 Chinese Economic Growth and the resultant socio-economic inequalities Introduction Over the past three decades, the economy of China has been on a co0nstant upward spiral, elevating the country to become one of the world’s top economies. The same has been attributed to the skilled labor that the country developed in the build up to the economic surge. The rapid growth in the economy caused excitement with great expectations of improved living standards for the citizens. In essence, the same came to pass as the overall GDP of the country generally improved with the minimum wage and income also increasing. The excitement derived credence from the assumption that the increased economic standing would increase and as such, citizens stood the chance of getting rich faster. Further, the reality of a trickle-down effect also raised the hopes of the population of a happier and wealthier lifestyle. However, when all the attention was focused on the increasing GDP and the burgeoning middle class and upper class citizenry, the lower class population was forgotten, and that led to the increase in the discrepancy between the rich and the poor. This study interrogates the inequalities that arose as a result of the social class segregation, with a segment focusing on the factors that may have contributed to the inequalities. Finally, the paper enumera ...
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