This book includes a series of papers that mainly discuss the proposition of “double middle-income traps.” It analyzes various perspectives of middle-income groups of Russia and China including employment, education, consumption, mobility, social insurance, social values and identity, social and political participation. This book further indicates that the expansion of middle-income groups plays an important role in promoting mass consumption, maintaining continuous and stable economic growth, and overcoming the double middle-income traps. The middle class and middle-income group generally owns higher economic capital and cultural capital and is proved to be the main strength in expanding consumption by many empirical studies. However, the middle class and middle-income group has currently encountered hindrance to upward mobility, life quality, social security and class identity, which prevent the expansion of the middle-income group and improvement of social structure. Through comparing the middle-income groups of these two countries, this book gives us a panoramic view of their social and economic condition. Successfully combining theory and concrete practical guidelines, the book offers a valuable resource for all those active in this dynamic field. The book is important for students, scholars, researchers and professionals in economic and social science fields.

Middle-class households feel left behind and have questioned the benefits of economic globalisation.

There have been two “hands” exerting influence on China’s resource allocation and economic development: one is tangible (government intervention), and the other intangible (market regulation). This book focuses on a third factor, “another invisible hand,” which is social structure transformation. This two part study explores the process of China's social structure transformation while conducting a theoretical examination of its characteristics. The first part presents a theoretical analysis of the nature of social structure transformation and its economic consequences, both in general and within the Chinese context. The second part examines the transformation of urban and rural societies in contemporary China from different perspectives; including state-owned enterprises, laid-off urban workers, rural migrants, and rural industrialization. The book is written for scholars, researchers and students across the social sciences and area studies, including Sociology, Urban studies, Rural studies, Contemporary China studies and all those who are interested in economic development in China.

This open access book explores one of the most fiercely debated issues in China: if and how China will surpass the middle income trap that has plagued many developing countries for years. This book gives readers a clear picture of China today and acts as a reference for other developing countries. China is facing many setbacks and experiencing an economic slowdown in recent years due to some serious issues, and income inequality is one such issue deferring China’s development potential by creating a middle income trap. This book thoroughly investigates both the unpromising factors and favorable conditions for China to overcome the trap. It illustrates that traps may be encountered at any stage of development and argues that political stability is the prerequisite to creating a favorable environment for economic development and addressing this “middle income trap”. Written by one of China's central planners, this book offers precious insights into the industrial policies that are transforming China and the world and will be of interest to China scholars, economists and political scientists.

In Middle Class Shanghai, Cheng Li, who grew up in Shanghai during the oppressive years of Mao's Cultural Revolution, argues that American policymakers must not lose sight of the expansive dynamism and diversity in present-day China. The caricature of China as a monolithic Communist apparatus set on exporting its ideology and development model is simplistic and misguided. Drawing on empirical research in the realms of higher education, avant-garde art, architecture, and law, Li's unique study highlights the strong, constructive impact of bilateral exchanges. Combining eclectic human stories with striking new data analysis, Li's book addresses the possibility that the development of China's class structure and cosmopolitan culture--exemplified and led by Shanghai--could provide a force for reshaping U.S.-China engagement. Both countries should build upon the deep cultural and educational exchanges that have bound them together for decades. Li concludes that U.S. .

Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

This book is a collection of empirical studies on China’s middle class from top-ranking Chinese sociologists, discussing this newly identified social stratum with regard to the basic concept and scope of the group, its functions, formation, identity, consumption, behavior patterns and value system. As the first study of its kind, the analysis of most chapters is based on a rich body of empirical data gathered from rigorous large-scale surveys designed specifically for the Chinese middle class across megacities including Beijing, Shanghai and Guangzhou. The book traces the complex and dynamic formation process of China’s middle class from different perspectives while dealing with issues of social concern such as “rigid social stratification”. The findings shed light on the underlying logic of structural change in Chinese society over several recent decades, with significant policy implications. The book will attract sociologists, students and policymakers interested in social structure, social transformation and middle-income groups in China.

This book is primarily based on data from the third analysis of domestic energy consumption, and it combines the conclusive summarizes from the previous two investigations. The book sets out to extend the spatial dimension of the research to a global one and discusses future development of domestic energy consumption from a global perspective. Additionally, the book seeks to discover general rules and diversity features via comparison, domestic vs. global. Future predictions via observations and summaries of history are provided for the reader in this volume as well. The studies in this volume not only provide a basic and supportive index for academic research, but also provide readers with a concrete sketch for people to understand energy use in their day-to-day lives, and it provides policy makers with fundamental, need-to-know data.

An East Asian Renaissance, by a World Bank team led by Chief Economist for East Asia & Pacific, Dr Homi Kharas and Economic Adviser, Dr Indermit Gill is the first comprehensive analysis of the new forces and challenges at play in the region since the Bank's seminal report of 1993, The East Asian Miracle. The report argues that regional flows of goods, finance and technology are helping even smaller East Asian countries reap the benefits of economies of scale and that this regional integration must be encouraged. But it also points out that these measures have to be supported by actions at the domestic level to ease the stresses and strains that rapid economic growth leaves in its wake. East Asia must now turn to the urgent domestic challenges of inequality, social cohesion, corruption and environmental degradation arising from its economic success.

After decades of stagnation, the size of Latin America's middle class recently expanded to the point where, for the first time ever, the number of people in poverty is equal to the size of the middle class. This volume investigates the nature, determinants and possible consequences of this remarkable process of social transformation. We propose an original definition of the middle class, tailor-made for Latin America, centered on the concept of economic security and thus a low probability of falling into poverty. Given our definition of the middle class, there are four, not three, classes in Latin America. Sandwiched between the poor and the middle class there lies a large group of people who appear to make ends meet well enough, but do not enjoy the economic security that would be required for membership of the middle class. We call this group the 'vulnerable'. In an almost mechanical sense, these transformations in Latin America reflect both economic growth and declining inequality in over the period. We adopt a measure of mobility that decomposes the 'gainers' and 'losers' in society by social class of each household. The continent has experienced a large amount of churning over the last 15 years, at least 43% of all Latin Americans changed social classes between the mid 1990s and the end of the 2000s. Despite the upward mobility trend, intergenerational mobility, a better proxy for inequality of opportunity, remains stagnant. Educational achievement and attainment remain to be strongly dependent upon parental education levels. Despite the recent growth in pro-poor programs, the middle class has benefited disproportionally from social security transfers and are increasingly opting out from government services. Central to the region's prospects of continued progress will be its ability to harness the new middle class into a new, more inclusive social contract, where the better-off pay their fair share of taxes, and demand improved public services.