China's Wide Income Gap Undercut Spending as Growth Recovers
China’s Wide Income Gap Undercut Spending as Growth Recovers Bloomberg 1/19/2021 (Bloomberg) -- China’s successful control of Covid-19 made it the only major economy to have grown last year, but wide income inequality and still weak consumer spending reflects an unbalanced recovery. Here’s a deeper look at some of the data published alongside the gross domestic product report this week: Income Gap Official figures released on Monday which showed that the economy’s growth rate surpassed pre-pandemic levels in the last quarter also revealed that the richest 20% of Chinese had an aver...
Source: msn.com