财新传媒 财新传媒

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1949年以來,国家在城里做了长期、巨额的投资(路、学校、医院、文化设施、环卫设施等等),一部分投资来自全民的积蓄、一部分来自印钞机。而在农村,国家所做的投资很少,于是,农民一直被摊薄。

美国白人与黑人家庭的财富中位数差十倍。中国城乡财富差距可能大于十倍。户口制度啊!

我的领英文章:

US black-white wealth gap may be smaller than China’s urban-rural gap.

WSJ reports today, quoting Federal Reserve data, that the US black families’ median net worth was only US$18k in 2016, while white families’ was US$171k.

That 10x gap, while sickening, may be smaller than China’s rural-urban net-worth gap, in my view. China’s prime minister Li Keqiang shocked observers early this month by announcing that 600m Chinese have a monthly income of less than 1000 yuan (US$143). Most of these 600m souls are of course in rural areas.

Since 1949, China has enforced a cruel residence system that keeps rural residents on the land while non-farm wages and the prices of real estate sky-rocket - particularly in the recent four decades. In these decades, a vast majority of state investment in infrastructure, education and hospitals has taken place in cities - partly financed by the printing press.

That apartheid has accentuated inequality and frustrated social mobility.
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香港慢牛投资公司董事长。瑞士银行11年 (研究主管/投行副主管)。86-89年任职人行总行。五年(2001-05)"机构投资者"杂志评选的中国分析师第一名。

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