Wealth gap challenges building of harmonious society – Fang Ning, Ji Ming
A million dollar wedding isn’t a novelty in the eastern metropolis of Shanghai nowadays, while a pot of turnip tassel was served at the lunch of a five-member rural family in Anhui Province some 400 km away.
China’s wealth gap has been widening to a dangerous level, warns the Chinese Ministry of Labor and Social Security, which says in its latest report that “unless effective measures are taken, the gap may drift further to the dangerous ‘Red Light’ level in the next five years.”..
“A healthy economy can’t be fueled only by the rich, who own yachts and fancy cars,” says Li Jian, an academician with the Shanghai Academy of Social Sciences.
He says that the widening wealth gap is threatening the country’s stability and undermining the country’s efforts for sustainable development.