China’s frustrated middle class

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In the 30 years since China opened up economically, hundreds of millions of people have ascended into its urban middle class. However, the Chinese miracle is slowing down and young people are becoming disillusioned. High property prices prevent the young from buying homes, but measures to lower property prices would drastically reduce the wealth of their parents and grandparents. While there’s no real challenge to China’s one-party system, the state does have serious obstacles to overcome in pursuit of expanding middle class society. Read full article here

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