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China has experienced remarkable economic growth since the transformation of its economy in the late 1980s, but its wage growth is comparatively slower. China’s income inequality has simultaneously intensified, which can be observed on many dimensions. Such uneven distribution between urban and rural residents and among individuals in general has a negative impact on consumer demand, which influences China’s trade patterns and economic growth. This article argues that China’s economic growth could be sustained along with growing consumer demand through a narrowing of its income gap and the establishment of a social security network.

 

CONTRIBUTOR
Heng Quan
Heng Quan

Heng Quan is a Professor of Economics and a Senior Research Fellow at the Shanghai Academy of Social Sciences in China.

Hairong Luo
Hairong Luo

Hairong Luo is a PhD candidate at the Shanghai Academy of Social Sciences.

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From the Desk of the Editor During the COVID-19 pandemic, individuals and governments across the globe have been reminded of the value of human life and the delicacy of human psychology. Societies have been forced to conform to governments’ speedy decisions to prevent the spread of the virus, and individuals—from the most vulnerable to the most well-off —were forced to self-isolate. The isolation...
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