Economics
China’s Wide Income Gap Undercut Spending as Growth Recovers
- Richest households earn more than 10 times income of poor
- Consumer spending has returned to growth, but remains subdued
Shoppers in the Sanyuanli market in Beijing.
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
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China’s successful control of Covid-19 made it the only major economy to have grown last year, but wide income inequality and still weak consumer spending reflects an unbalanced recovery.