China has a problem: rising inequality. The gap between profits and wages is soaring. Although elements of the government have sought to boost workers’ incomes, they have been thwarted by major companies and banks “that don’t want to give more profit to the country and let the government distribute it,” Qi Jingmei, a research fellow for a government think tank, told the Wall Street Journal.
Of course, if China permitted the establishment of unions, wages would rise. But for fundamentally political reasons — independent unions would undermine the Communist Party’s authority — unions are out of the question.
Meanwhile, the United States also has a problem of a rising gap between profits and wages. The stagnation of wages has become an accepted fact across the political spectrum; conservative columnists such asMichael Gerson and David Brooks have acknowledged that workers’ incomes seem to be stuck.
keyboard shortcuts: V vote up article J next comment K previous comment