China's GINI Ranking vs. USA
China’s GINI Ranking vs. USA
Last week Bloomberg noted that the 2011 US Gini Coefficent was 0.463.
An official Chinese report just released states that China’s Gini Coefficient for 2010 was 0.438, as the People’s Daily notes in New Gini figures show instability risks, need for reform.
What’s more significant, the People’s Daily headlined China’s score with these words:
New Gini figures show instability risks, need for reform.
“In some developed countries such as the US, whose Gini index sometimes reaches0.4, contradictions in income distribution are eased step by step through increasingtaxation on the wealthy and improving the welfare system to help the poor,” said DingYuanzhu, a professor at the Chinese Academy of Governance, adding that Chinacould learn from them in some way.
When will we see a headline like that in our media?