Tuesday, August 20, 2013

The economic transformation of China has been electrifying

 The economic transformation of China 
has been electrifying. But with Europe 
teetering and the US plodding, can the 
biggest tiger of all keep on roaring? 
China's super-rich certainly think they 
can.
Outside a private Beijing nightclub 
Porsches, Maseratis and Ferraris compete 
for space. Inside the club is packed with 
the children of China's super-rich enjoying 
a 'palace' themed party. 

China now has almost a million millionaires, 
six hundred billionaires, and the numbers 
keep growing at a staggering rate. 

Current projections say that in ten years' time, 
half the world's billionaires will come from 
China. While there are warnings signs that 
the economic woes of Europe and the US will 
hit China, China's super-rich don't seem 
concerned. For some the hope is that the 
Chinese market will pick up the slack. For 
others, who have only known the good times, 
anything else is unthinkable: "if I have any 
spare money I buy sports cars."

Video (about 26 mins):


- Alexandra

 
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Alexandra Bruce
Publisher, ForbiddenKnowledgeTV.com 
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