Wealth gap may hinder China's economic growth!

Wealth gap may hinder China's economic growth!
Nov 17, 2008 03:13
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	The wealth gap has been a serious problem for China for a long time. According to FT, a UN-sponsored survey says that the gap between the rich and the poor might hinder China's economic growth. Chinese government should provide basic public services to the poor and the underdeveloped areas. Chinese people are worried about if the government is capable of providing for retirement, health care and education so they save money for themselves and their children. A few days ago, Chinese government announced to delay the retirement age from 60 to 65 and this arouses a controversy. Many people worry that the government couldn't offer enough pension after they retire. Some guys even say that it is no use to pay old-age insurance. Why? They are not sure if they can live long enough to 65 years to get the old-age insureance.

Nov 17, 2008 03:13

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

The wealth gap has been a serious problem for China for a long time. According to FT, a UN-sponsored survey says that the gap between the rich and the poor might hinder China's economic growth. Chinese government should provide basic public services to the poor and the underdeveloped areas.

Chinese people are worried about if the government is capable of providing for retirement, health care and education so they save money for themselves and their children.

A few days ago, Chinese government announced to delay the retirement age from 60 to 65 and this arouses a controversy. Many people worry that the government couldn't offer enough pension after they retire. Some guys even say that it is no use to pay old-age insurance. Why? They are not sure if they can live long enough to 65 years to get the old-age insureance.

Nov 17, 2008 04:01

CARLOS
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Join Date: Sep 10, 2007
Status: Offline

China should go towards to wealth society. The views for the future thinking about peoples health are not too good. The air pollution situation in China will not get any better in future without radical actions and that, I am afraid, is simply not possible.
It is generally "known" that Chinese people live quite long time. However, air pollution in cities may cause major problems for health care in future. It also may cause people dying for different lung deseases much younger than nowadays.
However, weath society eats money and that means the government must go to peoples pockets. Rising taxes do not make people happy.

Providing basic public services to all areas is important. People should be able to get help no matter their incomes.

IMO China is rocketing to uncontrolled economy where those who have much will have more and those who have less are doomed to stay there. Providing public services to 1,3 billion people is a huge challenge and definitely will fail without the whole nation engagement.

In addition to that, just read from magazine the amazingly fast happened change to a modern, Western-like city life has caused major mental problems to young students. Because of one child policy parents first spoil their only child and then put massive expectations to their studies.

These times news about Chinese peolpe committing suicides or a student killing a teacher are not rare any more, sad to say.

Slipped a little off topic, sorry

Carlos

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