The top 1% of households in China control more than one third of the country’s wealth, while the bottom quarter of population control just 1%, official media said, citing 2012 figures contained in a Peking University report.
The Gini coefficient is a measure of inequality with 0 representing total equality and 1 representing total inequality. Government statistics claim the figure stood at 0.47 in 2012, which would put it close to the US, which had an index figure of 0.56 in 2009, according to the World Bank. The Peking University report puts the figure for “family households” in China in 2012 at an alarmingly high 0.73.
The Gini coefficient is a measure of inequality with 0 representing total equality and 1 representing total inequality. Government statistics claim the figure stood at 0.47 in 2012, which would put it close to the US, which had an index figure of 0.56 in 2009, according to the World Bank. The Peking University report puts the figure for “family households” in China in 2012 at an alarmingly high 0.73.
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