China Catches Up To The US In One Embarrassing Way

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Friday, October 21, 2011 China Catches Up To The US In One Embarrassing Way The high-level of inequality in the US is becoming a big, salient political issue that actually threatens the status of elites. The bad news for China: As of 2008, it's already caught up to the US on this measure. In his presentation on the threats to the Chinese economy, hedge funder Wu Zhijian of Woodsford Capital Management Pte. Ltd. puts up this chart of Gini coefficients across key countries. For those that don't know, the GIni Coefficient is a crude way of measuring inequality (You can see the math behind it here). The basic idea is that on a scale of 0-100, 0 would represent a country where everyone had identical amounts of money, and 100 would represent a world in which just one person had all the money and everyone else had nothing. Anyway, Brazil is actually lapping the field on this front, putting everyone to shame in terms of inequality. But the US and China are at the same level. And if wealth inequality here is causing social schisms, as rich as we are, you can imagine how the low-end Chinese feel in this world of rapid growth and exploding wealth. Read » Also On Money Game Today: JOHN MAULDIN: Here's How We Should Cut Spending To Get The Economy Back On Track A Real Estate Broker Tells Us What The Government Should Do To Save The Housing Market CITI Presents The 10 Countries That Will Dominate World Trade In 2050 The 14 Most Unemployed States In America Advertisement CHART OF THE DAY: The New Scariest Chart In Europe CHART OF THE DAY: Inflation Is A Thing Of The Past CHART OF THE DAY: French-German Spreads Explode, As Everyone Watches In Horror Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.careerrrwyld@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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