China’s best and brightest still prefer government jobs over joining the private sector, says professor Zhang Juwei, a researcher at the Chinese Academy of Social Sciences’ Institute of Population and Labor Economics to CNN. “The private sector in China is not very well structured or developed.” But government jobs are hard to get
The wealth gap in China, reflected in the gini coefficient, is moving into dangerous heights, and government action is needed to narrow to divide between rich and poor, says professor Zhang Juwei, director of the labor and social security research center at the Chinese Academy of Social Sciences to the China Daily.
Top executives at China’s internet giant Tencent earn higher salaries than their counterparts at Amazon, Twitter, Intel Apple and IBM, according to job portal Zhaopin.com. Business analyst Shaun Rein is not surprised, he tells the South China Morning Post. There is no other way to retain their talent in China.
President-elect Donald Trump has announced he will get American jobs back from China, and named China a currency manipulator. But jobs have already moved away from China, says business analyst Shaun Rein, author of The End of Cheap China, in the International Business Times, and he has missed 10 years of change in China.