In your example you actually have instance variable, not the class variable.
Difference comes in the moment when you add new constructor MyClass(Object argument) and forget to set x directly and forget to call original no-arg constructor as well. Making it final, if applicable, will of course force you to remember to set value somewhere.
In the case of class variable things get much more interesting, just change x to static and add following main method to the MyClass and observe results.
public static void main(String ... args) {
MyClass y = null;
System.out.println(y.x);
System.out.println(MyClass.x);
new MyClass();
System.out.println(MyClass.x);
}