Eliminating inequality is often regarded as equity. An experiment conducted by communists in the Soviet Union and China to eliminate inequality a hundred years ago proved that inequality not only failed to create a utopia but people also lost their motivation simultaneously. No matter how hard they work, they were offered the same reward as others. The late leader Deng Xiaoping amended the national policy to encourage the idea of “work more, earn more” and protect private property rights in 1979. This has motivated citizens for more than 40 years and made China the second-largest economy in the world.

Learn more from the full article (in Chinese only) written by Kenny Siu, Senior Advisor of AEC Group, published on Sing Pao on 6 June.