How China's widening wealth gap caused the financial crisis

Howls of derision greeted the official announcement last week that mainland Chinese income inequality peaked in 2008 and has since been falling.

The sceptics should think again. Not only is it feasible that China's wealth gap has narrowed since the financial crisis, it's excellent news. Widening income inequality not only dangerously destabilised China's own economy, it was also a major cause of the global financial crisis in the first place.

via Business feed http://www.scmp.com/business/article/1133874/how-chinas-widening-wealth-gap-caused-financial-crisis