News and Events
The New Rich in China: Why There is no New Middle Class
Inaugural Lecture of Professor David Goodman,Professor of Chinese Politics
and Director of the Institute of Social Sciences.
Economic reform in the Peopleâ€™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 â€˜new richâ€™. They have also been referred to both inside and outside of the PRC as the new middle class (or middle classes) if for different reasons.
While there are good reasons for accepting this designation, the evidence from surveys of new rich entrepreneurs conducted since the early 1990s in different parts of the PRC (Zhejiang, Shanxi, Qinghai, Sichuan, and Hainan) suggest caution. 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 longterm future.
When: Thursday 4 March 2010, 6pm (Refreshments in the Woolley Foyer from 5.30pm)
Where: Woolley Theatre N395, Woolley Building, The University of Sydney
Further Information: Emeritus Professor Nerida Newbigin / (02) 9660 2612