tag:blogger.com,1999:blog-3343894211954575846.post4158988853799421544..comments2024-03-29T03:18:15.367-04:00Comments on Dim Sums: Rural China Economics and Policy: China Ag Bank Pumps Funds to Keep Farms AfloatUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3343894211954575846.post-81430840487428392502019-12-23T20:57:05.440-05:002019-12-23T20:57:05.440-05:00is there any academic literature available on this...is there any academic literature available on this bank, either in Chinese or English?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3343894211954575846.post-88151448496825815402019-11-22T23:08:52.037-05:002019-11-22T23:08:52.037-05:00reduce the massive inequality in China?
Inequalit...reduce the massive inequality in China?<br /><br />Inequality has been dropping like a rock since Xi made Gini improvement a requirement for official promotions in 2012. Today its 38.5 compared to America's 41.5, and that doesn't account for the fact that all poor Chinese own their homes free and clear.<br /><br />China’s rural, inland people have always been poorer than their urban, coastal cousins and, because the country couldn’t afford to build homes and cities fast enough, inlanders have been held in place by residential hukous. But economists[1] have discovered that their inequality was exaggerated. The cost of living in Shanghai and Shenzhen is much higher because land prices and basic food costs are much higher. Housing quality is the same in both regions and basic food costs in rural areas are half Beijing’s. Researchers analyzed the full range of goods and services and concluded that incomes from rural areas should be increased by fifty percent to make them comparable. <br /><br />Then, when they adjusted for where people actually live the difference shrank further. Until recently, demographers counted people’s hukous–where they were registered to live–rather than where they actually lived. As migrant workers’ numbers rose to three hundred million in 2018, their movement severely distorted the statistics. In real life, the coastal provinces have millions more residents than their registered populations and the migrant-sending inland provinces have millions less. When someone moved from the interior to the coast, they lifted inequality indicators because she contributed to income in the coastal destination but was still counted as living in her rural home. Once they corrected[2] this counting error, analysts found that regional inequality has declined by forty-two percent since 1978, at 1.1 percent annually. In 2002, fourteen Guizhou workers earned as much as the average[3] Shanghainese, but by 2019, it took only five. Nor was the structural gap as painful as it sounds. Across the country, everyone saw everyone else they could see getting richer each year and, to rural villagers buying their first pickup truck, Shanghai’s glitzy lifestyle was no more relevant than New York’s. Godfree Robertshttps://www.blogger.com/profile/06178509602799506224noreply@blogger.com