Investigating the Feasibility of Universal Basic Income in China: Based on Evidence from Hangzhou
DOI:
https://doi.org/10.61173/e8fbrc24Keywords:
Universal Basic Income, welfare system, technological unemployment, the Chinese economy, HangzhouAbstract
Improving the current welfare system in China has become more relevant and important as AI and automation have developed, and issues facing the Chinese economy have been revealed. As supported historically and contemporarily by scholars and technology visionaries, Universal Basic Income (UBI) can be an alternative. Since trials have yet to be conducted in China, extensive secondary research was conducted to combine and compare existing work, which primarily focuses on the Western context, with this study. The secondary research covers the history of UBI, alternatives and variants of UBI, the possible impacts of UBI, and an evaluation of China’s economic condition. For primary research, this study adopts a questionnaire and applies Chi-squared, normality, and nonparametric tests to survey findings. Based on responses from 124 Hangzhou residents, it is concluded that UBI is generally feasible and increasing luxury tax can be a favorable funding option. However, the level of UBI needs to be carefully managed.
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