Essay about An Adaptive Challenge Of China

998 Words Dec 7th, 2015 4 Pages
Over the past few decades, China has become one of the fasted-growing political economics within the world. Although the rapid growth of economy brings out a lot of benefits to citizens, it has not reached all elements of the population. Due to the expanded of the economy, the rising wage gap in China has dramatically increased, and became a major social problem. In terms of most people awareness for this issue especially who are in the rich level, that caused the problem became an adaptive challenge in China. However, the solution of adaptive challenges usually require people to change their ways, and find out what they discarded form the past practices.

As a matter of fact, this adaptive challenge is affecting to China heavily. An academic report posted recently by Research Institute of Peking University shows that in China, the top one percent of households has one-third of total wealth, while the bottom fourth holds only one percent (Zhou, 2014). Wealth refers to the total sum of an individual’s assets, and if he has any liabilities, minus that. As we know, assets will embody everything from an owned personal residence, profit savings account, investments in projects or bonds, real estate, even the pension. While liabilities cover the items such as automobile loan, credit card balance, mortgage, or the other bills have not paid yet. (Institutions for policy studies, 2015)

After having a clear idea of wealth and adaptive challenge, Shang and Wu (2002) point out that…

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