In China, the middle class is disappearing faster than anywhere in the world. With skyhigh unemployment rate, stagnating income level, and expensive housing price that drains most of family savings, many middle class families are falling into poverty at an astonishing speed.
Chinese factories are sweatshops of the world. While the world can buy extremely cheap garments manufactured in China for as little as 50 cents a T-shirt, Chinese workers can barely make a living toiling in these factories.