In China, Betting It All on a Child in College

[Vladenschlutte]

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For a country run by a supposedly “communist” party, the People’s Republic of China has a higher Gini coefficient than the US, meaning it has more unequal incomes than the US, which is one of the more unequal countries among the rich countries. Indeed, its Gini coefficient is larger than most countries in Asia, including both richer ones (e.g. Japan, the Republic of Korea, Turkey) and poorer ones (e.g. India, Mongolia, Vietnam).

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<p>However, the people of China are relatively well off compared to the people of India, Mongolia, and Vietnam. It’s not so bad if the rich are richer as long as every body is richer too. Income inequality isn’t a good measure of the well being of the poor.</p>