RJ
Answered
Describe China's continuing unequal economic distribution and how it affects consumers in that country.
On May 20, 2024
China continues to suffer from drastically unequal economic distribution, which has led to a significant migrant workforce that subsists on part-time, low-paying jobs. These workers were hit hard by the global financial crisis, which reduced demand for Chinese exports for the first time in years. Government regulations limiting families to one child have negatively impacted the Chinese population. As a result, growth of the 1.4 billion-strong Chinese population has slowed and is therefore aging, but the median age is still slightly younger than in the United States, which is at 37.4 years old. Although the Chinese government has amended the policy to allow for two children per family, these trends will impact how products and services are purchased for many years.