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Thread: China's Gini coefficient is higher than all developed countries

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[quote=MARRIE,272005]While the Paris-based Organization for Economic Cooperation and Development last week echoed concern about the level of China's stocks, it maintained its forecast for more than 10 percent economic expansion this year and next, citing it as a key reason for why the world economy will remain robust.

Staying Strong

``If the Chinese economy stays strong, a decline in its stock market isn't going to affect the rest of the world,'' said Alec Young, an international equity strategist at Standard & Poor's in New York.

Such views haven't stopped China's authorities from being concerned about the potential fallout of an equity-market slump on shareholders who include monks, maids and cooks.

Investors on May 28 opened 455,111 new accounts to trade mainland shares and mutual funds, bringing the tally to 100.3 million, the China Securities Depository & Clearing Corp. said on its Web site. More than 20 million accounts have been opened at brokerages so far this year, four times the amount in the whole of 2006, according to the clearing house.

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