The New York Times ran a story on the wealth of the Chinese leaders which is mind-boggling (and probably very embarrassing to the Chinese). The world has been dazzled by the extraordinary economic growth in China over the last 20 years, but there have also been hints of widening economic inequality associated with that growth. What we haven’t known is how the economic wealth has been concentrated within the political leadership (a phenomenon that has been well-documented within many of the rich countries, including the US). The question raised by the article is whether China is just another rich country or whether its economic path is truly distinctive (and presumably better, as has been claimed by the Chinese). Since it is a long article, I will not post any other articles for today.
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