Comment on “Income and Wealth Inequality in Asia and the Pacific: Trends, Causes, and Policy Remedies”

Income and Wealth Inequality in Asia and the Pacific: Trends, Causes, and Policy Remedies

“…In 2019, China's personal income tax as a percentage of GDP was only 1.1%, while the same figure was 8.1% for OECD countries on average (OECD, 2021). At the same time, China's total social spending on the elderly (mainly pensions) as a percentage of GDP is now close to the average level of the countries at a similar income level globally, but the total social spending to working‐age families as a percentage of GDP is much lower (Gan, 2023).…”

Inequality, Social Justice and Welfare in Asia: Editors' Overview

“…Gan points out that there exist several large‐scale, academic household surveys for China. Based on these surveys, in particular, the China Household Income Project (CHIP) and the China Household Finance Survey (CHFS), Gan (2023) argues that the P90/P50 ratios between 2010 and 2018, decreased slightly, from 3.65 to 3.28. Working‐age households did not see much change in these ratios, while families with retired people saw a significant drop in inequality, from 5.09 to 3.21.…”

“…Li Gan (2023) comments on Zhuang's (Zhuang, 2023) discussion of China. Gan points out that there exist several large-scale, academic household surveys for China.…”