This new paper by T. Piketty, L. Yang and G. Zucman, “Capital Accumulation, Private Property and Rising Inequality in China”, WID.world Working Paper 2017/06 combines national accounts, survey, wealth and fiscal data (including recently released tax data on high-income taxpayers) in order to provide consistent series on the accumulation and distribution of income and wealth in China over the 1978-2015 period.
HIGHLIGHTS: The aggregate national wealth-income ratio has increased from 350% in 1978 to almost 700% in 2015. The share of public property in national wealth has declined from about 70% in 1978 to 30% in 2015, which is still a lot higher than in rich countries (close to 0% or negative). The top 10% income share rose from 27% to 41% of national income between 1978 and 2015, while the bottom 50% share dropped from 27% to 15%. China’s inequality levels used to be close to Nordic countries and are now approaching U.S. levels.
Appendix available here. Main data files and computer codes can be accessed here (and full data files there). Presentations slides here.
