China boasts the largest social assistance system in the world by number of beneficiaries. In theory, this guarantees a basic standard of living for all citizens. Yet invasive income- and asset-testing measures and flawed implementation mean that many eligible citizens never receive full support, and those who do are often left stigmatized and isolated.
While COVID-19 continues to stifle China’s economy, with unemployment sitting at a record 6.2% , Western media attention has concentrated on which monetary levers the country’s central bank is likely to pull, what sort of infrastructure stimulus central authorities are likely to favor, and […]
Full Post at signal.supchina.com