The inequality of wages has always been one of the issues of economy, despite the equal pay act of 1963 in the US and equal pay act of 1970 in the UK, the men are still earning more than 20 percent than women in these two countries. Milton Friedman in the video below explains his point of view about the equal pay can lead to anti-feminism, regardless of the person intention. However, regardless of what Milton Friedman said, there are have been an improvement of over 20 percent in the past 40 years.
We all know how large the economy of China, and according to data from Trading Economics the annual growth rate of GDP of China has been declining since 2013 where it was 7.9 percent and by 2016 it become 6.3 percent. The video that was published by Youtube Channel Al Jazeera English "Inside Sotry-Why is Chinese economy slowing?"
Al Jazeera English
According to the Economist that was interviewed on the video, it could be expected that economy of China would slow down, but some of the economist on the video argued that it the country could face difficulties due to the several issues. The point that was interesting is that people in China might have been changing from production to consumption and this could be happening too soon. The important factor that is important to people is growth of personal income and even if the GDP is slowing but personal income is increasing by 2 percent. Over all the growth rate might be slow in coming years.