Is China going to have the same "income equality" debate we have?

Question

I just do not get this.

When the economy becomes less fettered, more people make more money.

97% of us are made better off and the other 3% are those that refuse to adapt.

Of the 97% who are better off, some move up faster than others.

Some are made rich beyond their wildest imaginations.

But this doesn't come at the expense of anyone else - the question still remains, do you want to be better off than you are today even if that means some rich guy is going to be a LOT better off, or do you want to be worse off than you are today but be consoled in the fact that the rich guy will lose his fortune?

Do we want equally shared misery or unequally shared bounty?

The Chinese are facing this issue for the first time in decades now because it's been equally shared misery for so long.

http://news.yahoo.com/s/ap/20070316/ap_on_re_as/china_politics

Answer 1

The economic evidence is clear -- but the results are not so agreeable.

First, if you look at China and India, average incomes are growing like crazy. That is, the average citizen is gaining at a rapid pace.

Second, if you look at the poorest 20% of the population, they are also growing, but not as fast as the average. So, is this good or bad? Hard to say..... the poor are still getting richer, but they are progressing more slowly than those that are ahead of them on the economic ladder.

These two facts describe just about all countries, except those in Africa. In Africa, the poor AND the middle class are actually become more poor, while only the richest 10% or so are progressing up the economic ladder.

Answer 2

Yes. They LOVE the money. Keep on the look out.

Answer 3

A rising tide raises all ships.

Answer 4

income equality, is sicko talk.
Like all these progressive caucus members who run their mouths about social and economic justice!
How about social and economic liberty?
It's sad a group of people with power are so lost.