Translation Tag: income
Researchers at Nankai University argue that increasing the proportion of China’s population in the middle class will have knock-on effects for social stability, productivity growth, and consumer demand. As a result, they argue, continuing to expand this demographic will be “an important task for China going forward in the new stage of development.” The authors recommend Beijing focus on raising income levels of rural residents through rural revitalization, promoting urbanization, and “gradually transition[ing] from an urban development orientation to a strategic focus that prioritizes rural revitalization and development.”
A prominent scholar at the Chinese Academy of Social Sciences argues that addressing barriers to social mobility is key to curbing rising income inequality in China and avoiding the middle income trap. He promotes hukou reform as a potential remedy, advocating for a change in “the method where the supply of public goods treat[s] people differently based on household registration status.”