After 19 years China will enter into the "high-income society"?

in Economics

The World Bank and the State Council Development Research Center have co-authored a report looking forward to 2030 with a loud title: China in 2030: the construction of a modern, harmonious, creative and high-income society. "High-income society" opinion can touch people.

 The report points out the six strategic directions for the future development of China, and on the whole, it has strong persuasive power. For example, in the report, it is said that China gas been striving to turn the environmental pressure into the green power for development. The report also calls for increasing equal opportunities and expanding health, education and employment services to the public. Both of these are aimed at opening up new markets for China's economy and turning burdens and problems into the potential space for new growth.

 But the report has suddenly post the new concept of a high income society before the Chinese public, which is very abrupt. China's official target for 2020 was elaborated as the "completion of the comprehensive well-off society" and this target has been deeply rooted in the public and complies with the public's real feelings.

According to the World Bank standards in 2008, the country where the gross national income per capita is above $ 11,906 falls into "high income countries", which is roughly equivalent to more than double of the last GNI per capita in China. Statistically speaking, during the next 19 years, it is highly likely that China may achieve this level.

But China must not take "higher income society" concept and use it as a replacing description of China's goals in the past. Official story was that by 2050, China will be a "medium-developed country". Too high-profile description of the high-income society may produce too much understanding among ordinary citizens.

Expressions such as "Well-off", "medium-developed" have built a discourse of China's plan for the future, and their academic validity and political effectiveness are very high. Being free to skip to the discourse of the World Bank will cause unnecessary confusion to China, leading to a lot of misunderstanding.

In such a big country like China, from 1978 when the country was in almost abject poverty into what the Chinese generally believe that "high-income community", in no cash, this can be acquired within half of a century. In some first-tier cities and developed areas this is possible, but the whole China certainly can't make it, even if all the reforms we have been carrying out are right, we still can't make it.

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This article was published on 2012/04/18
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