Wednesday, October 14, 2015

"I am the good shepherd" - The Current State of China


Around Tokyo, "Autumn has come!"



The Current State of China


The probability that those born in the economically and socially lowest sector in China continue to stay in the class is now higher than in 1990s.

The upper 10% wealthy Chinese possess 63.9% of all the assets in China.

The upper 5% wealthy urban Chinese have 242 times larger yearly incomes than the lower 5% poor urban Chinese.

Among 1.3 billion Chinese, 900 million are officially registered as residents in villages and 400 million in cities.  It means 900 million Chinese are not beneficiaries of the Chinese economic success.

There are millions of poor manual workers in Shanghai who have come to the city for earning money.  They are called farmrr-workmen.

The Gini coefficient of China is now more than 0.6 while it is said that a country with the coefficient of 0.4 or more would tend to face a social turmoil.

The Chinese Government has adopted a policy of charging rich men who have earned money through illegal means instead of narrowing a gap between the rich and the poor to maintain order and appease complaining and angry poor people.

According to a survey by China Society of Economic Reform (CSER), a scale of money being handled in criminal or non-legal activities such as bribery and undeclared income is equivalent to 12% of Chinese GDP.

Now there are three million millionaires and 1000 billionaires in China.  But there are still 50 million Chinese who cannot take enough foods.

Since 2005 the exchange rate of the Yuan has been raised by 35% and the minimum wage in China was increased by 10%, resulting in weakened competitiveness of Chinese exporters.

According to the Chinese official statistics, a yearly increase of electricity consumption in China is about 3% in recent years, but a yearly increase of the Chinese GDP is about 7%.  Experts take the former data as a more authentic index for the Chinese economy.

The economic growth rate of China in 2016 is expected to be 6.8%.




図表1:中国貿易統計輸出額(前年同月比)の推移
(月次、期間:2009年11月~2014年11月)

Trend of Chinese exports, year on year, officially announced




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Joh 10:14 I am the good shepherd, and know my sheep, and am known of mine.