Inequality Based on Power and Capital is Becoming Unsolvable in China: Integrating Culture and Comprehensive Wealth to Approach a Power–Capital Economy

In: China report: a journal of East Asian studies = Zhong guo shu yi, Volume 59, Issue 3, p. 289-306

Abstract

This study assesses China's power–capital economy model, linking it to cultural tightness and comprehensive wealth. The analysis indicates that cultural tightness interacts with the power–capital economy, and unequal distribution of diverse tangible and intangible wealth might result from differences in cultural capital. Power–capital-based inequality widened during the reign of Xi Jinping. Of note, the worsened inequality would be unsolvable because of the political power or government-led power–capital-based inequality. Viewed from the comprehensive wealth framework (CWF) perspective, enhancing a power–capital economy would not contribute to sustainability because the system might contribute to unequal distribution of comprehensive wealth between advantaged and disadvantaged groups regarding power capital.