Year: 2024
Type: article
Abstract: It is important to address one of the most common problems in economics for decades, which has been the global wealth inequality, and to promote common economic prosperity and balanced economic growth. This research examines the various impacts of income inequality on economic growth in Eastern China, and compares it with economic development in Central and Western China. Shanghai, Suzhou and Hangzhou in Eastern China have experienced significant economic transformation, but this has also exacerbated the unequal distribution of wealth and income. By analyzing economic growth, infrastructure investment, and the allocation of educational resources across regions, this paper emphasizes how these elements lead to significant economic inequalities among the Eastern, Central, and Western China. Furthermore, the paper investigates the adverse financial impacts of income inequality on consumer demand, social stability, and labor force utilization, and provides policy suggestions for fostering common prosperity and more balanced economic growth. In short, it is necessary to achieve more inclusive and sustainable economic growth through more balanced regional development policies.
Author: Yuzhe Fang
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405793090