Poor

Shoppers walking past a store of Italian luxury brand Prada at a shopping complex in Beijing, China, 19 September 2020. (Tingshu Wang/Reuters)

How to build a ‘super-sized domestic market’ in China

Even as China talks of a “dual circulation” system and building a “super-sized domestic market”, it seems that its population of 1.4 billion has yet to translate into a strong consumer market. Zaobao correspondent Yang Danxu looks into what it will take for the Chinese government’s plan to work.
A worker plants an American flag along the National Mall in Washington, DC, US, on 18 January 2021. (Stefani Reynolds/Bloomberg)

The poor in the US and China live different lives

With the Biden administration in place, some fear that the generous social welfare policies Democrat governments tend to implement will further deplete the US’s dwindling coffers. Even as some Americans have a knee-jerk reaction to what they perceive to be socialism, can the Chinese example offer any learning points for the Americans? How were they able to industrialise so quickly and move towards poverty alleviation?
A sign welcoming US President-elect Joe Biden and Vice President-elect Kamala Harris is placed near the US Capitol days after supporters of US President Donald Trump stormed the US Capitol in Washington, US, 10 January 2021. (Joshua Roberts/Reuters)

Can America find its way under Biden?

His divisive ways had earned President Donald Trump the moniker “Trump who builds our nation” amongst Chinese netizens. When President-elect Biden assumes power, will he be straitjacketed by the radical left in his party and be turned unwittingly into another “Biden who builds our nation” to the Chinese? Will America's troubles translate to opportunities for China?
Visitors walk on the Bund in Shanghai, China, on 21 December 2020. China’s central bank is striking out on its own with signals of tighter monetary policy, widening a divergence with other large economies that will shape global capital and trade flows next year. (Qilai Shen/Bloomberg)

How China’s dual circulation strategy will affect the world economy

In May this year, China’s leaders proposed a new dual circulation strategy featuring both domestic and international circulation, with emphasis on the former. Associate Professor Gu Qingyang of the Lee Kuan Yew School of Public Policy (LKYSPP) notes how this new strategy will complement the current global economic system, and how it will affect the rest of the world.
People wearing face masks walk past a flower display dedicated to frontline healthcare workers during the Covid-19 pandemic in celebration of the upcoming National Day of the People's Republic of China, in Beijing on 29 September 2020. (Nicolas Asfouri/AFP)

China’s public healthcare system: Robust enough for 1.4 billion people?

David Ng goes over several key indicators in China’s healthcare system to see how China’s public healthcare system holds up. With medical advances driving up healthcare expenditure and a fast-ageing people, the most populous nation of the world has got its work cut out.
Delivery workers wearing face masks ride scooters in front of Lujiazui financial district, in Shanghai, China, 10 July 2020. (Aly Song/File Photo/Reuters)

Socialism and universal basic income: Creating happy societies in the age of the knowledge economy

Lance Gore analyses that the knowledge economy offers great potential for bettering the lives of people. But capitalism may not be the best route to take. Power in the hands of a few, income gaps, job losses and wage cuts in the digital age bear this out. Can China offer a third way as it seeks to marry socialism with a market economy? The West is already considering some proposals with a socialist bent such as the Universal Basic Income (UBI). Surely, proponents of socialism can think of even more revolutionary ideas?
A man smokes at a stall selling frozen wonton near a hutong neighborhood in Beijing, 5 June 2020. (Tingshu Wang/REUTERS)

Persistent poverty and a weak middle class: China's fundamental challenge

Zheng Yongnian says China must not get ahead of itself. Recent statistics prove that 600 million people indeed earn a monthly income of just 1,000 RMB. China’s earlier reforms had led to equitable growth, but income disparity has increased with rapid economic development since it joined the WTO. As it stands, the bottom strata of Chinese society remain huge while China’s relatively small middle class continues to suffer in an inadequate social system. Rather than sweep these issues aside in a bid to glorify the country’s achievements but downplay its shortcomings, China must take a hard look at itself and focus on pursuing equitable growth.