Over the past two decades, China's economy has boomed, surpassing Japan and not far behind the United States. Although, millions of Chinese were left in the dust as a result. The uneven distribution of wealth is creating many social and economic problems. An academic report in 2014 stated that the top one percent of the chinese population has one third of China's overall wealth. The number of people with low salaries is growing and is reducing the economy's independence for trade. The lowest 25 percent have only one percent of the country's wealth. And the gap between the rich and the poor is still widening. As of late 2014, 70 million people live below the poverty line which was set at 467USD (2800 yuan). People above that line will also have to take their of the elderly as more and more elder people are becoming present in China. China's one child policy is responsible for this, established in 1979 in an attempt to control China's booming population. However, in 2015 China removed this policy to ease the economy, and prevent labor shortages from an aging population This also allowed couples to have more than one child. The elder population is growing significantly at about 10 percent of China's
Over the past two decades, China's economy has boomed, surpassing Japan and not far behind the United States. Although, millions of Chinese were left in the dust as a result. The uneven distribution of wealth is creating many social and economic problems. An academic report in 2014 stated that the top one percent of the chinese population has one third of China's overall wealth. The number of people with low salaries is growing and is reducing the economy's independence for trade. The lowest 25 percent have only one percent of the country's wealth. And the gap between the rich and the poor is still widening. As of late 2014, 70 million people live below the poverty line which was set at 467USD (2800 yuan). People above that line will also have to take their of the elderly as more and more elder people are becoming present in China. China's one child policy is responsible for this, established in 1979 in an attempt to control China's booming population. However, in 2015 China removed this policy to ease the economy, and prevent labor shortages from an aging population This also allowed couples to have more than one child. The elder population is growing significantly at about 10 percent of China's