China’s leadership is serious about its push to fight inequality. That is the conclusion of a discussion event held by the Kiel Institute for the World Economy (IfW) entitled “After 40 years of poverty reduction in China: What are the challenges?” International experts even see a global trend in the shift toward more socially responsible policies. “We are seeing the end of the Reagan-Deng-Xiaoping era of rising inequality,” says economist Branko Milanović of the Stone Center on Socio-Economic Inequality at the City University of New York. He is alluding to US President Ronald Reagan and Chinese leader Deng Xiaoping, who independently made rising inequality possible in the early 1980s – intending to create more economic momentum.
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