The Changes in Chinaâs Resident Income Gap under the New Normal of the Economy in 2015

Yiyong Yang; Zhenhe Chi

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Chapter 4 The Changes in Chinaâs Resident Income Gap under the New Normal of the Economy in 2015

In: Chinese Research Perspectives on Society, Volume 5

Authors:

Yiyong Yang

Yiyong Yang
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Zhenhe Chi

Zhenhe Chi
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Type:: Chapter

Pages:: 66â80

DOI:: https://doi.org/10.1163/9789004418608_005

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Abstract

The new normal of the economy is typically characterized by an economic slowdown and industrial structural upgrading, both of which will exert an important impact on residentsâ income gap. This chapter studies the changes in residentsâ income gap under the new normal and concludes that the per capita disposable income of urban low-income households has grown faster than that of high-income households, and that trend will not be reversed in a short time, so the urban residentsâ income gap will continue narrowing in the future. The economic slowdown may lead to a fall in the prices of agricultural products and a decrease in the growth rate of the income of rural low-income households, thus the rural income gap will continue to widen. The economic slowdown and industrial structural upgrading have decreased the urban labor demand and have increased the demand for rural labor forces, so the wage income of rural households has grown faster than that of urban households; this will further narrow the urban-rural income gap. Overall, with the narrowing of the urban residentsâ income gap and urban-rural income gap, Chinaâs residentsâ income gap will continue narrowing in the future.

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Chinese Research Perspectives on Society, Volume 5

Analysis and Forecast of China's Social Conditions (2016)

Series:Â Chinese Research Perspectives, Volume: 5Â andÂ Chinese Research Perspectives on Society, Volume: 5

Cover Chinese Research Perspectives on Society, Volume 5

E-Book ISBN:: 9789004418608

Publisher:: Brill

Print Publication Date:: 11 Oct 2019

Subjects
- Asian Studies
  - China
  - Social Sciences
- Social Sciences
  - Asian Studies

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Chapter 4 The Changes in Chinaâs Resident Income Gap under the New Normal of the Economy in 2015

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Chinese Research Perspectives on Society, Volume 5

Analysis and Forecast of China's Social Conditions (2016)

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Chapter 4 The Changes in Chinaâs Resident Income Gap under the New Normal of the Economy in 2015