Chinas rich are extravagant, greedy and corrupt, says online poll

Fifty-seven percent of the 8,000 people participating in a China Youth Daily online poll have described in the rich in the country as largely leading extravagant, greedy and corrupt lifestyles.

New Delhi, Aug.15 : Fifty-seven percent of the 8,000 people participating in a China Youth Daily online poll have described in the rich in the country as largely leading "extravagant, greedy and corrupt" lifestyles.

The China Youth Daily-Sina.com poll further highlights that there is an apparent discontent over the widening income gap between the rich and the poor.

Despite their dissatisfaction, 93 percent of those polled wished they could be rich too, and called on richer people should be "socially responsible".

Some 33 percent of respondents also praised rich people for being "smart".

Nearly 90 percent of respondents agreed that most people in society, including themselves, were willing to speak up for the poor, but were reluctant to take action and actually do something for them.

The survey comes on the heels of a heated debate over comments made by renowned economist Mao Yushi, who said he was "speaking for the rich and working for the poor".

A report released by the Asian Development Bank last Wednesday revealed that China's Gini coefficient - an indicator of the wealth divide - rose from 0.407 in 1993 to 0.473 in 2004.

An earlier CASS report said that the richest 10 percent of Chinese families now own more than 40 percent of all private assets, while the poorest 10 percent share less than two percent of the total wealth.

The country's income disparity is close to that of Latin America, the report said.

ANI