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“Everyone will become rich”: in China, the newly wealthy live in contrast with the old rural poor

China's middle class is on the up and the state aims to eradicate poverty by 2012. But a third of the country's wealth is held by 1 per cent of the population

By Nick Holdstock  

(170926) -- MILAN, Sept. 26, 2017 (Xinhua) -- A model presents a creation at the show of Chinese fashion house He Yi Chuang Yi, part of the Fashion Shenzhen event, during Milan Fashion Week Spring/Summer 2018 in Milan, Italy, on Sept. 25, 2017. (Xinhua/Jin Yu) (zjl)

Last week’s Chinese Communist Party Congress was a series of interminable, triumphant speeches glorifying the achievements of the Party and Xi Jinping, its increasingly dominant leader. While it’s tempting to dismiss the Congress as an exercise in authoritarian artifice, it’s hard to deny that the Party has managed to steer the country through a profound transformation over the last four decades. The economic reforms introduced in the late 1970s have certainly led to improvements…

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