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Thread: China's Gini coefficient is higher than all developed countries
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[quote=MARRIE,271999]The CSI 300 Index, China's benchmark, today fell 6.8 percent, the most in three months, after the government tripled the stamp tax on stock trading to 0.3 percent from 0.1 percent. Until today the index had more than doubled this year and its stocks traded at 48 times earnings, almost three times the multiple for those in the U.S. Dow Jones Industrial Average. U.S. stocks surged to a record today and European shares recouped early declines sparked by the sell-off in China. The Standard and Poor's 500 Index, a benchmark for U.S. companies with a median market value of $14 billion, rose 0.8 percent to 1530.23, eclipsing its March 2000 record close of 1527.46. The 30-stock Dow average added 0.8 percent to 13,633.08, its 25th high this year. The Euro Stoxx 50, a measure for the 13 nations sharing the euro, slipped 0.1 percent after falling as much as 1.1 percent. [/quote]
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