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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