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Why China Has No New Middle Class: Captains of Industry, Cadres and Professionals

David S. G. Goodman, University of Technology, Sydney, discusses the emergence of the "new rich" in China.

January 11, 2007 12:00am

Thursday, January 11, 2007, 4:00-6:00 pm
USC Leavey Library Auditorum
Sponsored by the USC East Asian Studies Center

Professor Goodman is Professor of Contemporary China Studies at the University of Technology, Sydney, and a Fellow of Academy of Social Sciences in Australia.

Economic reform in the People’s Republic of China [PRC] since 1980 has seen the emergence of new categories of wealth and power. Collectively and colloquially these new categories have been referred to as the “new rich.” In terms of hierarchies of wealth, status and power the new rich represent not just a significant component of the current ruling class, but perhaps more significantly highlight the dimensions for the long-term future.