Please use the following article and cite any other sources used

https://www.globaltimes.cn/page/202302/1286098.shtml

https://time.com/6220111/income-inequality-us-2/

1. Summarize key points of the news article that discusses Income Inequality and activity,

• What are the issues with a large pay gap between the rich and the poor? Explain.
• Are there any long-term effects on the economy, society or the individuals as a result of the income inequality? Explain.
• How do people become aware of high and rising economic inequality, and how do they become aware of their own relative economic status? Explain.

2. Reflection should also include a paragraph in the initial response in their own words, using microeconomic terminology, reflecting on what they learned from the assignment and how they think they could apply please compare and contrast the opinions of the authors of the articles, present the important information, data, statistics to support your conclusions.