What President Xi Knows about China’s Economy: 1% hold a third of the country’s wealth.

National Review ^ | 10/24/2017 | Therese Shaheen

[goldstategop]

Yup.

The Communist Party came to power by a genuine popular revolution fueled by million of peasants from China’s populous countryside serving in the Red Army.

In many ways, Chinese Communism identified with the peasant experience and was an outgrowth of it This is an contrast to Russia, where Communism originated in the cities and only later to the rural world.

China has grown impressively since opening up to the world since the late 1970s. Yet for all that progress, millions of rural Chinese have not benefited from it.

The greatest threat to Communist Party rule, besides endemic corruption, is massive social inequality. Xi understands very well what the challenge is in delivering a better life to average rural Chinese.

It may be beyond his and the party’s ability to tackle, given the size and depth of the problem involved. But social stsbility and a harmonious society - depend on it.