When a country undergoes economic growth, all of its workers especially those who are listed in the bottom 20% are expected to obtain a rise in their incomes, but in the country of China, economic growth causes a spike in the incomes of workers listed in top 20% which eventually creates a huge inequality gap between the low and high-income generators.
Despite yearning to achieve a society where the income gap is moderate every year, China still manages to generate a substantial inequality gap between the low and high-income makers, which not only puts the bottom 20% in the utmost danger but also gives extra benefit to the top list holders.
International inequality challenges
The recent report suggests that by the time China will step into 2024, its economic growth would have surpassed all the other nations leading to an international inequality gap, which would prove to be a difficult mission for the rest of the countries.
The COVID-19 pandemic, however, caused an instant rise in the income generated by the bottom 20% workers of China. Still, it is expected that as soon as the world resumes to its pre-pandemic activities, the emphasis will be shifted back to the topmost income generators, eventually creating a huge income gap.
Infographic by: Statista.com