In China, it has been increasingly difficult for people from poor families to climb up the socioeconomic ladder than those from rich families. This condition is in direct correlation to the uneven distribution of wealth and a growing gap between the rich and the poor. This is the conclusion of a research project done by economists at the National University of Singapore and the Chinese University of Hong Kong.
By analyzing statistics on Chinese income from 1979 to 2016, the researchers were able to substantiate their findings with a mathematical formula. The results were published in the American Economic Journal in February 2021.
