China's rapid growth fuels income inequality, sparking urgent policy reform.
The rapid economic growth in China has led to a significant increase in income inequality. This is mainly due to the fact that capital owners are earning more compared to wage earners. The unequal ownership of capital, especially in financial and real estate sectors, has contributed to this growing income gap. To address this issue, it is important to understand the causes of income inequality in China and develop appropriate policies to tackle this pressing problem.