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Top One Percent Has One Third of China’s Wealth, Research Shows

BEIJING | By Zhou Dongxu (Caixin) | China’s income inequality is relatively high, and its wealth inequality, as measured by the Gini index, is greater than its income inequality. The U.S.’ income inequality index is lower than China’s, but its wealth inequality is higher – Its Gini coefficient for household wealth was 0.8, compared with China’s 0.73. This is because the United States has a relatively mature market economy, where wealth has been accumulated slowly through income and investment. Many in China, however, own homes allocated to them by the government. As those homes’ value increased, so did their wealth.

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Rich, filthy rich and ultra rich in the UK

LONDON | Even Ledbury Research, a specialised market intelligence agency that on Thursday released fresh data on the wealthiest few of the British society, acknowledges how tough the task of gaining access to their detailed information is. Yet, the rich hold a vast share of consumer influence and, obviously, economic power in their countries, so it is worth making the effort. What the Wealth Size report brought is a tale…