Income inequality is growing fast in China and making it look more like the US

Between 1978 and 2015, China moved from a poor, underdeveloped country to the world’s leading emerging economy. Despite the decline in its share of world population, China’s share of world GDP increased from less than 3 per cent in 1978 to about 20 per cent by 2015 (see Figure 1). According to official statistics, real