I’ve been in China for two weeks. First in Beijing, then Hangzhou.
Everytime I went back to China, there’re big changes. This time is no exception. Tremendous wealth has been created in the last a few years, especially in big cities in coastal area. The emerging upper middle class is becoming much wealthier, to the point of running out of things to buy. Automobiles of all makes and models are jamming the streets and parking lots. Highend apartment buildings and even luxurious houses and townhouses are mushrooming around town.
The problem with only a few percentages of elite class getting richer is that the overall living standard can ‘t really keep up with them just yet. It also creates potentially dangerous social unrest with the widening of the wealth gap.