China's top 1% control 70% of wealth

[LongTomH]

Run time: 04:48 https://www.youtube.com/watch?v=Fhs6yXjgLeM   Posted on YouTube: August 15, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: August 15, 2008 By DU Member: LongTomH Views on DU: 603

 
During the Summer Olympics, The RealNews has been running interviews with Naomi Klein and others about the reality of life in the new China. This interview with Professor Ming Li covers much of the same territory, but with more detail. China is becoming like the US, a small plutocracy who control most of the wealth and worsening conditions for the rest.

Professor Li pretty well destroys the myth of the new "Chinese Middle Class," that defenders of globalization point to.
They're really the top 15% of the income pyramid.

Send this to any of your friends who are still talking about "The Chinese Communists" or "The ChiComs"

Edited to add: This is actually part 2 of a 4 part interview.

Part 1 is here: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x170018

[Selatius]

1. Sounds like China is ready for a class revolution. A real one. nt

[mamameow]

5. class??

don't you think we should have our own revolution before china?

[liberal N proud]

2. If the bu$h regime and their minions had their way, that could be America

The trickle down economics is designed to do exactly that but in reverse. The money all trickles to the wealthy.
Rich get richer, poor get poorer.

[mamameow]

4. could be?

come out from your shell, this is the united states!!!!!

[David__77]

3. Only slightly more polarized than the US.

They are actually a middle-range country with regard to wealth polarization as measured by the Gini coefficient.

[L. Coyote]

6. K & R