Does China have a high Gini coefficient?
China’s average Gini coefficient of recent 10 years is 0.482, while that of the EU 27 countries is 0.305. This means that China’s Gini coefficient is 58\% higher than that of the EU. Furthermore, China’s Gini coefficient is 67\% higher than Germany’s, the most typical market socialist country.
What is the Gini coefficient in China?
0.465
In 2019, China reached a score of 46.5 (0.465) points. The Gini Index is a statistical measure that is used to represent unequal distributions, e.g. income distribution. It can take any value between 1 and 100 points (or 0 and 1). The closer the value is to 100 the greater is the inequality.
What happens if the Gini coefficient is 0?
The Gini coefficient measures the inequality among values of a frequency distribution (for example, levels of income). A Gini coefficient of zero expresses perfect equality, where all values are the same (e.g. where everyone has the same income).
Which country has the lowest Gini coefficient?
South Africa
South Africa ranks as the country with the lowest level of income equality in the world, thanks to a Gini coefficient of 63.0 when last measured in 2014.
What is the Gini coefficient of China 2018?
China Gini Coefficient data was reported at 0.465 NA in 2019. This records a decrease from the previous number of 0.468 NA for 2018. China Gini Coefficient data is updated yearly, averaging 0.474 NA from Dec 2003 to 2019, with 17 observations.
What is a good Gini coefficient?
It is influenced by the distribution of income between people. Gini index < 0.2 represents perfect income equality, 0.2–0.3 relative equality, 0.3–0.4 adequate equality, 0.4–0.5 big income gap, and above 0.5 represents severe income gap.
What is China’s Gini coefficient 2020?
Is the Gini coefficient reliable?
Its results are also sensitive to outliers—a few very wealthy or very poor individuals can change the statistic significantly, even in a large sample. Cowell says that the Gini coefficient should not be used as the sole measure of economic inequality.
How do you explain Gini coefficient?
The Gini coefficient (Gini index or Gini ratio) is a statistical measure of economic inequality in a population. The coefficient measures the dispersion of income. A coefficient of one represents a perfect inequality when one person in a population receives all the income, while other people earn nothing.
Is a low Gini coefficient good?
Which country has the best Gini coefficient?
GINI index (World Bank estimate) – Country Ranking
| Rank | Country | Value |
|---|---|---|
| 1 | South Africa | 63.00 |
| 2 | Namibia | 59.10 |
| 3 | Suriname | 57.60 |
| 4 | Zambia | 57.10 |
Why does China have a high Gini coefficient?
According to research published in the China Economic Review, population aging is “largely responsible for the sharp increase in income inequality in rural China,” especially at the beginning of the 2000s.