Why China Need to Spend more on welfare?
CNN, March 5, 2013
http://edition.cnn.com/2013/03/05/opinion/china-economy-gan/index.html?iref=allsearch
Summary
Chinese government potentially can grow much rapidly and explosively; however, inequality between rich and poor is decreasing people's purchasing power, leading to shrink of Chinese economy. Since China adapted market economy system, financial gap between high class and lower class people has been drastically increased, and this gap is one of the China's biggest social problem. In addition to socially deteriorating China, rising gap between rich and poor is even worsening China's economy, and it has become the most serious problem that Chinese government should cope with as soon as possible. Some experts suggest Chinese government for a vigorous transfer or social welfare system that may redistribute wealth concentrated on high class. Such reformation will not only improve the life quality of people but also the Chinese economy as a whole.
My Opinion
Chinese economy is one of the significant power in world economy. As the major economic power, China is obliged to sustain economic development for the health of world economy, and it is necessary for Chinese society not only for internal economic growth but also for the world economy. I knew that Chinese society has serious social gap between rich and poor; however, I did not know that such gap is serious enough to threaten the purchasing power of the society. For sustainable and sounding economic development, Chinese government should deal with this issue ASAP, and display its potential fully. (And it is somewhat ironic that communism government is actually negligent of social inequality...:( )
In recent years, China dramatically develops in economy and becomes one of the significant power in world economy. I also agree that China should sustain economic development not only for their own economy but also for the entire economy.
ReplyDeleteyou are the second person who wrote about China this week, which shows the strength of China's economic power. As a world power, China has to contribute more for world's economic development. -Grace
ReplyDeleteI think China should be more worried about their people than its economy.
ReplyDeleteFrom my point of vie , the Chinese government should be kept balance between rich and poor people in order to sustain economic power. The government tries to give an opportunity to the poor to solve those problems or to gain more benefits.
ReplyDelete