China’s Increasing Wealth Gap May Create Issues for New Leaders
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Huang Nubo is a 56-year-old real estate developer who happens to be a billionaire. He grew up in poverty as a child but he now tops the Forbes’ list of the world’s wealthiest people containing both power and riches. Ten years ago he started with only one piece of property and now his company owns apartments, malls and resorts worldwide.
On the contrast, Jin Dengshan is a rural farmer living in the Henan Province of China and describes his life in one word “hard”. Dengshan, with his wife and three young children, live on less than $800 a year that they earn by selling mushrooms.
There are 128 million other Chinese citizens that have these same circumstances making less than $1.25 a day. As China begins to change its leadership this month, a growing divide between the rich and the poor is a challenge that will become the main focus.
On Nov. 8, China’s Communist Party began meeting, which is held once every 10 years, and by the end the people of China will be told who their new leaders are. The current President Hu Jintao gave China its greatest success yet in economic development, unfortunately the come up had a ripple effect.
Jin Xinzhen, a neighbor of Jin Dengshan who is also living in poverty, states that he is too poor to get married. He also stated that he and others in similar living conditions are “like 1,000 miles away from the rich and we couldn’t catch up if we had a rocket”.
Read more at CBSnews.com