China To Release “Wealth Gap” Study

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By Douglas A. McIntyre Published

The wealth gap, a fuel behind the Occupy Wall Street movement and a push by the Administration to rise taxes for the rich, is not just an American concern. The Chinese government worries about the amount made by urban dwellers compared to those in rural areas. The migration of people to large cities to add to the manufacturing labor base continues in the People’s Republic. A global recession could halt that, and bring down employment, and possibly wages, among the urban middle class.

The China Daily reports

Urban and rural income surveys will be standardized amid plans to publish an internationally accepted measure of how wealth is distributed, a leading statistician said.   “The nationwide survey, which will provide basic data for China’s Gini coefficient calculation, will cover about 140,000 urban and rural households, and the gathering and use of data will conform to international standards,” Xie Hongguang, deputy chief of the National Bureau of Statistics (NBS), said.

The integrated urban-rural income data is scheduled to be published in 2013 to pave the way for the publication of a national Gini coefficient that can measure income inequality, Xie said.

The survey will be part of the Sino-Canadian statistics cooperative program. Statistics Canada has shared its experiences in collecting and processing data, Xie said.

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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