Essay on Poverty and Income Inequality in China

Murray, Harry. "Deniable Degradation: The Finger-Imaging Of Welfare Recipients." Sociological Forum 15.1 (2000): 39. Academic Search Premier. Web. 28 May 2013.

As the modern day economy continues to grow, more and more discussion are emerging revolving around what are the factors that led to the successful economic growth in some countries and one country that has been gaining researcher’s interest is China and the development of Beijing from a third world country in the to a developed and Newly industrialized country today.

Within the United States, a multitude of Americans live in poverty, actually, according to the Census Bureau in 2010, “there were 42 million poor people in the United States,” and a large portion of those who reside in the middle class are approaching the poverty line, thus, augmenting the amount of people who live in the lower class. As a result of this occurrence, income inequality has become a paramount topic in recent times, especially in the 2016 election. In addition of politicians and other government members discussing this gargantuan issue, professors, journalists, and others have written about this topic to inform the populace about income inequality, and provided ways to fix the issue. The authors Robert B. Reich, Gregory Mantsios, Alan Ajas, Daniel Bustillo, William Darity Jr., and Darrick Hamilton are experts within the field of economics and labor; however, all of these writers are people from different backgrounds, such as Robert B. Reich, who was the Secretary of Labor under President William J. Clinton, and Alan Ajas, who is a professor at Brooklyn College. Although these authors write about income inequality and its causes in the United States, each of the three essays written have a unique focus to each of them, a unique style they are written, and unique solutions to the problem plaguing the U.S.

Income inequality has slowly become an issue gaining momentum over the last thirty-five years, did we see it coming, I think so. It has always been an issues, only after decades of misleading political leadership spanning decades are people finally fed-up of being misled and lied to. The current election for the next president has brought about a voice of the American people to demand a change within our three failing political systems that govern America. Only this change, I believe is going to bring a country to its knees, the wealth holders are not, going to just step aside and willing unlock the scales of wealth that to encumber its poor, they are going to dig in and hold fast to what they have stolen and hoarded since the time of slavery.

China has reached a milestone in terms of achieving its centenarian goal of making China a prosperous nation once again. One of the ways that it has done this is by having steady economic growth even in the midst of an economic crisis. Not only has China’s economy grown, but its standard of living has also improved, it has achieved this by spending 70 percent of its fiscal revenue towards improving people’s standard of living. China has also pushed more anti-corruption reforms and has made efforts towards widening its economy by setting up freer trade.

One of the social issues concerning power, status, and class in American society today is income inequality. The income gap between the social classes has increased drastically throughout the last few decades, creating a significant gap between the wealthy and the poor. This gap has become so large that the middle class has nearly diminished, creating a social class comprised of the rich and the poor. The significant gap between the two social classes is unhealthy for the economy because it provides too much power in the hands of those with high social status.

To capture the benefits of globalisation, the communist government has moved its focus from domestic to trade oriented. China has become the second largest economy in the world. Since 1980s, it has gone from being the 12th largest economy in the world to the second largest. This indicates that its economy has been growing with an average rate of 10 per cent per year for the last three

Income inequality have been going up nonstop up for quite some time, and it doesn’t appear to be slowing down any time soon. While that difference keeps increasing, it is important to ask ourselves, is it possible that a big difference on income could affect Social Security in the US? And if so, what kind of response should the government have to be able to uphold its promise to pay its citizens back the money they put in over the year, and let The Social Security Administration play the role that was originally intended for, a program that promotes income stability in the country. And lastly, should we, the citizens, look into and alternative retirement plan?

Hung’s stated goals are as follows. First, he aims to outline the historical origins of the capitalist boom in China as well as the conditions which predicated said boom. He also names four conceptions against history to explore the global effects of China’s capitalist boom and the limit of that boom. Firstly, he seeks to challenge the notion that China is challenging the United States neoliberal order. Secondly, he examines the belief that the increasing incomes of poor Chinese citizens helps to reverse worldwide income polarization. Thirdly, he analyzes the claim that China’s rise is challenging Western dominion over the world, and is radically altering the world order. Lastly, he plans to evaluate the assertion that China has been emerging as the most powerful driver of growth since the global financial crisis. He plans to devote a single chapter to the refutation of each of these views and explanations of why they overstate the importance of China, in addition to several introductory chapters describing China’s rise. He aims to prove with this work that China is no different than the other major capitalist powers, that its boom is dependent on the global neoliberal order, that its boom contributes to rampant inequality, and, in sum, that China is just a foundation of the capitalist status quo.

In India, some of the worst off will earn daily wages by scouring through piles of trash looking for recyclables to sell for money. The definition of wealth in the slums is determined by a person’s ability to afford shelter for their plastic. 60 million Indians live in the Urban slums and 300 million under the World Bank poverty line - $1.25 per day (91). In china, the poor face the same issues. Although China has made considerable efforts to help out their poor, but their efforts continue to fall short. As living conditions continue to stay rough, people continue to move towards the cities, farmers are abandoning their land and crops in search for higher incomes. However, for a while, the migrants were rejected city services. Often children and spouses are separated for long periods of time, in most cases young parents are forced to send their children home to their village while they work in city factories in order to send money home. A large issue is that people in China are historically unaware of the labor laws that the should be followed (94). In both countries, even when people are aware of the social services they could receive, most are not allowed to get bank accounts, the only means they would have to receive government compensation. Plus, both countries have historical caste systems that often prevent any economic mobility (98). Most of the time, caste systems will determine where

This article was showing why and what the government was doing to help offset the inequality issues. It was interesting to see how this article said that China’s inequality between the rural and urban areas increased tremendously because of the rise of industrialization. Personally, I find China industrializing to be suitable because being more industrialized is helping China’s economy, as said by this article. However, when China focuses on only industrializing the urban parts more than the rural, that becomes a problem. It becomes a problem because one area is not going to get the necessary attention it needs to be successful. There is a group named the township and village enterprise (TVE), and their primary focus is to industrialized rural provinces. The article gives us data to show the distribution priority for industrializing urban and rural areas. The data shows that industrialization is the main reason there is inequality in China. I was happy to see that there were programs to try and help the rural provinces. It shows that China’s government is trying to at least appear to be fixing the

We're Experiencing the Greatest Reshuffling of Income Since the Industrial Revolution. Globally, in 2012 the world’s 100 richest people gained $241 billion to reach a net worth of $1.9 trillion. This figure nearly matches the entire output of the United Kingdom. While it is true that the nine-tenths of the planet’s richest 1% live in the Global North, such vast differences in wealth are not exclusively American or British problems. Notwithstanding Brazil’s, South Africa’s and Nigeria’s growth, Latin America and sub-Saharan Africa remain the most unequal regions in the world. In East Asia, overall inequality has improved, in part because of China’s increases in prosperity. But China’s inequality is only slightly lower than the US and, by

Charles Darwin in his theory of natural selection said “ the fittest of the fittest will survive,” and year after year China has proven they are the fittest by climbing the economic ladder, as Mark Schwartz Vice Chairman of Goldman Sachs and Chairman of Golden Sachs Asia Pacific, claims in his speech “China’s Economic Success and Opportunities,” “China is coming out of a period of rapid growth almost ten percent over the last thirty (30) years. In 2013 China’s gross domestic product (GDP) was 9.3 trillion dollars in size the second largest economy on the world and in 2013 China contributed 28% GDP to the world growth globally” (Schwartz). Was this growth due to rapid industrialization or the implementation of polices using Marxist and Keynesian perspectives or was it the authoritarian regime? However, it is China’s collectivist approach towards socialism that is responsible for their recent success.

We will begin our analysis of these questions by examining China’s economy at the time of Deng Xiaoping’s accession to power in 1978 and the economic growth strategy he and his successor implemented which ultimately led China to ascension into the WTO. We will then review various conditions imposed upon China by the WTO and how China reacted to those changes and to what extent these lead to China’s current status and interaction

The purpose of this essay is to show how the economy of China has, and is changing, becoming the second largest economy in the world today. Although China is currently under the leadership of Xi Jinping, this essay will concentrate primarily on the actions undertaken by then President Mao Zedong, followed by then President Deng Xiaoping, (sans mention of Hua Guofeng). Given the relative infancy of Xi’s assumption of power, economic policies still remain largely rhetorical in form. Likewise, the majority of literature concerning economic policies under Xi are largely speculative, often citing strategies and ambitions as opposed to thereby, lacking a solid basis for rational induction In addition to China’s lack of transparency, In addition, it will be shown that the methodology behind the Chinese economy demonstrates the implementation of varying levels of the characteristics associated with the schools of Realism, Marxism and Liberalism. Thus, China’s approach to global trade in the 21st Century is pluralistic, testamentary to the failed economic