China has unveiled a new plan to fight the inequality gap in their country. This announcement comes amid a wave of public outcry against government elites exploiting their titles for personal gain. The goal of the package is to try and narrow the gap between the extremely rich and those in poverty. The package was backed by the National Development and Reform Commission and proposes 35 goals. One of the more interesting ways China is trying to approach redistribution is by raising the the minimum wage to 40% of average urban wages. This eliminates much of the overhead of government run redistribution programs, and more efficiently allocates the money. I found this article interesting as the United States has seen similar backlash about the growing income inequality.
This article was found on The Economist.