Income redistribution ensures social harmony

JIN DING/CHINA DAILY The Communique of the Third Plenary Session of the 20th Central Committee of the Communist Party of China vows to promote integrated urban-rural development, ensure the people's well-being, and improve the income distribution system. Also, the concentration of excessive wealth in a handful of people will prevent the lower and middle-income groups' upward mobility because, for example, the housing market is dominated by a few rich people owning hundreds of properties each, as is the case in Western capitals such as Amsterdam. For example, in developed countries when it comes to the owner of a large number of houses, it is the use of money to push others out of the housing market that forces many to live in relative poverty, because available houses will only be used for rich Airbnb tourists, not for reasonably priced long-term lease to students or migrant workers. Even in considering free market or liberalization as a useful tool, diligent research by the government into the practical consequences for each sector and general topics such as income redistribution in society, can be useful.