Translation Tag: income
Yang Guoliang, a professor at the University of International Business and Economics (UIBE) in Beijing, frames U.S. pursuit of strategic competition with China as a reemergence of Western imperialism. He suggests the relative shift in economic power away from the West in past decades, toward the rest of the world, has led Washington to characterize globalization as “out-of-control” and introduce its own set of restrictions on international commercial engagement. While reiterating the need for continued reform and opening up, he underscores the need for China to set its own limits on commercial openness — particularly in the realm of inbound foreign investment from the West — in order to safeguard its sovereignty, security and development interests.
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.”