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The Real News Network: China's Top 1% Control 70% of Wealth

August 15, 2008
12:00 PM

CONTACT: The Real News Network
Taruna Godric. 416 916 5202

China's Top 1% Control 70% of Wealth
China's growing economic problems and dark political history
left out of the Olympic spotlights
August 15 - Minqi Li spoke with Paul Jay, Senior Editor at The Real News about the grim reality of China's economic situation in contrast to the spectacular display of the country's rich cultural history at the 2008 Olympic Opening Ceremony.

The ceremony promoted a falsely "harmonious society," an image the Chinese Communist Party wants to perpetuate "because they feel that, over the years of market-oriented reform, China has developed so many social conflicts, so many disharmonious aspects in this society, stated Li, an Assistant Professor at the University of Utah.

He also stated that between 1-5% of the Chinese population control about 70% of its total wealth. This unequal distribution of wealth within the population has only emphasized the political problems.

Li, critiqued China's health care system, which was considered adequate among third-world standards, has now become "arguably the most privatized health care system in the world," making it inaccessible to many workers and rural peasants.

Referring to the events the ceremony did focus on, Li stated that the Chinese government allowed the celebration of Confucian and Western themes, but avoided "anything associated with revolution or socialism."

This is the second series of Winners and Losers in New China. Watch the full story on The Real News Network


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