Professor Gan Li Says Income Equality Bad for China

The video discusses the Chinese government's insufficient spending on poverty alleviation compared to other countries, highlighting that only 14% of spending is directed towards income transfers. It examines Chinese families' asset allocation, noting a heavy investment in housing, which is unbalanced compared to the US. The reliability of government data is questioned, though it is believed to be improving. Finally, the video identifies overlooked opportunities in China's economy, emphasizing the need to focus on the relative poor and transition to a consumption-driven economy.

What percentage of Chinese government spending is used for income transfers to the poor?

• 50%

• 36%

• 14%

• 70%

In China, what percentage of total assets is typically invested in housing?

• 70%

• 85%

• 50%

• 36%

How does the reliability of Chinese government data compare to the past?

• It is intentionally misleading

• It has not changed

• It has become more reliable

• It has become less reliable

What is a major overlooked opportunity in China's economy according to the transcript?

• Increasing exports

• Understanding the consumption side

• Developing the manufacturing sector

• Focusing on the extremely poor

What should China focus on between 2020 and 2030 to help its economy?

• Only eliminating extreme poverty

• Developing military strength

• Increasing government spending

• Focusing on the relatively poor and skills development