On Thu, Feb 25, 2016 at 12:38 PM, Marv Gandall <[email protected]> wrote:
> > > https://news.vice.com/article/beijing-overtakes-new-york-to-become-billionaire-capital-of-the-world-1 > > A companion piece in the New Yorker illustrates the contradictory legacy > of the Chinese Revolution: more people have been lifted out of poverty but > class inequality has grown at a greater pace than at any time in world > history. > To what extent is the Chinese economic expansion of the last 3 decades a legacy of the 1949 Revolution? Isn't it more accurate to think of it as the legacy of Deng Xiaoping who in turn represented a sharp break with the 1949 revolution after Mao's death? What exactly is socialist about the PRC today? -raghu. > "About a third of China’s wealth belongs to just one per cent of the > population. While China’s poor still inhabit a developing-world economy, a > recent report found that the country now has more dollar billionaires than > the U.S. does. > > “A study by the Bank of China and the Hurun Report found that sixty per > cent of the country’s rich people were either in the process of moving > abroad or considering doing so.” > > http://www.newyorker.com/magazine/2016/02/22/chinas-rich-kids-head-west >
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