Travel Reference
In-Depth Information
Lama Temple, Beijing (
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Challenges
The sky is the limit for China, say many pundits. Naysayers see the start of a
hangover as exports contract, overcapacity increases and the property market
slides. Less partisan voices describe a levelling out and an adjustment to
lower - but still vigorous compared to the West - growth rates. Whatever the
scenario, China faces manifold challenges.
Inequality in China is among the world's most severe. Factoring in undis-
closed income the wealthiest 10% of Chinese may earn 65 times that of the
poorest 10%, according to
Bloomberg Businessweek
. The urban middle class
is rapidly expanding, but most of the wealth belongs to a narrow band of pluto-
crats. The wealth of incoming President Xi Jinping's family reportedly runs into
hundreds of millions of US dollars, while outgoing Wen Jiabao's family
amassed US.7 billion, according to a report by the
New York Times
. The relat-
