Beijing Beats New York as Home for Most Billionaires

[beijingwalker]

Beijing is the only shining spot in north China, the south now is streets ahead of the north, something needs to be done to address this problem.

 

[aziqbal]

Beijing is the only shining spot in north China, the south now is streets ahead of the north, something needs to be done to address this problem.

China Has a Huge Wealth-Gap Problem — and It's Getting Worse

China Has a Huge Wealth-Gap Problem — and It's Getting Worse

China’s economy could become the world’s biggest within the decade. It’s also one of the most unequal — a problem only made worse by the pandemic.

www.bloomberg.com

 

[beijingwalker]

China Has a Huge Wealth-Gap Problem — and It's Getting Worse

China Has a Huge Wealth-Gap Problem — and It's Getting Worse

China’s economy could become the world’s biggest within the decade. It’s also one of the most unequal — a problem only made worse by the pandemic.

www.bloomberg.com

Every country has this problem, doesn't India have this problem too? the rich and poor gap, US is the same, you must be thinking China is prefect which has no problems at all, lol.

 

[aziqbal]

Every country has this problem, doesn't India have this problem too? the rich and poor gap, US is the same, you must be thinking China is prefect which has no problems at all, lol.

This thread is about China stick to the topic and stop trolling

 

[beijingwalker]

This thread is about China stick to the topic and stop trolling

Rich and poor gap is a problem in every country, not only about China, duh?

 

[rent4country]

LOL, this is an insight into the classic Chinese propaganda and IQ

Chinese fella says - 100 billionaires out of 23 million population in Beijing is far better than 99 Billionaires out of a population of only 8 million people in NY state.

 

[master_13]

LOL, this is an insight into the classic Chinese propaganda and IQ

Chinese fella says - 100 billionaires out of 23 million population in Beijing is far better than 99 Billionaires out of a population of only 8 million people in NY state.

NY state has more population than 8 million, yep, your IQ is showing.

 

[rent4country]

NY state has more population than 8 million, yep, your IQ is showing.

I mistyped. NY City has 8 million NY state with its rural parts has 18 million. City of Beijing is being compared to NY city. Both financial hubs.

 

[tower9]

Doesn't Shanghai have more GDP than Beijing? I was also watching few Chinese dramas (eg., Nothing but Thirty) , where usually I got the impression that Shanghai is more richer/business oriented city.

Shanghai is a bigger commercial hub than Beijing and is very business oriented but for some reason, it has less billionaires than other cities. Not really sure why.

Beijing is the only shining spot in north China, the south now is streets ahead of the north, something needs to be done to address this problem.

Southern Chinese are far more business oriented and commercially oriented than Northern Chinese. Most of the stereotypes about Chinese in the West are really derived from Southern Chinese solely. Northern China is much more political and nationalistic than the South with a more macho culture.

LOL, this is an insight into the classic Chinese propaganda and IQ

Chinese fella says - 100 billionaires out of 23 million population in Beijing is far better than 99 Billionaires out of a population of only 8 million people in NY state.

The US is still richer per capita but the key thing here is how far and how fast China has come up. 20 years ago, China would not be anywhere close to the US. Now it has more billionaires than the US. In 20 years, it will probably have three times the number of the US, if not 4x.

 

[rent4country]

Shanghai is a bigger commercial hub than Beijing and is very business oriented but for some reason, it has less billionaires than other cities. Not really sure why.


Southern Chinese are far more business oriented and commercially oriented than Northern Chinese. Most of the stereotypes about Chinese in the West are really derived from Southern Chinese solely. Northern China is much more political and nationalistic than the South with a more macho culture.


The US is still richer per capita but the key thing here is how far and how fast China has come up. 20 years ago, China would not be anywhere close to the US. Now it has more billionaires than the US. In 20 years, it will probably have three times the number of the US, if not 4x.

and yet most factory workers in China make less than a 16-year American kid at part-time job. 1.2 billion mouths to feed, and aging...

 

[tower9]

and yet most factory workers in China make less than a 16-year American kid at part-time job. 1.2 billion mouths to feed, and aging...

Compared to 20 years ago, the majority of Chinese were impoverished. Now many of these people have moved into the middle class and 80% of Chinese own their own property. Of course, China's wages are still low compared to the West but their living standards have also risen very fast. China is projected to become a majority Middle Class developed nation in 10 years.

 

[rent4country]

Compared to 20 years ago, the majority of Chinese were impoverished. Now many of these people have moved into the middle class and 80% of Chinese own their own property. Of course, China's wages are still low compared to the West but their living standards have also risen very fast. China is projected to become a majority Middle Class developed nation in 10 years.

1.2 billion mouths and aging...in 10 years your middle class will earn less in a month than a US high school graduate.

 

[tower9]

1.2 billion mouths and aging...in 10 years your middle class will earn less in a month than a US high school graduate.

You really don't have a clue. Most people in China, even the workers, have savings. While probably half of Americans have no savings and live off credit cards month to month. And let's not even get to the cost of living which is less expensive there. When that's taken into comparison, most of urban China already has a GDP per capita comparable to Southern European countries.

 

[rent4country]

You really don't have a clue. Most people in China, even the workers, have savings. While probably half of Americans have no savings and live off credit cards month to month. And let's not even get to the cost of living which is less expensive there. When that's taken into comparison, most of urban China already has a GDP per capita comparable to Southern European countries.

1.2 billion mouths and aging. Not even a developed nation status after having the 2nd highest GDP.

 

[tower9]

1.2 billion mouths and aging. Not even a developed nation status after having the 2nd highest GDP.

Keep repeating that mantra. Whatever makes you sleep better at night.

Somehow China is building tomorrow's infrastructure that can't even be imagined in the West yet you somehow think it is condemned to poverty when it is already approaching developed nation status with the world's largest middle class already.

Bike tour in a third tier city, Changsha in central China

In a no name suburban Chinese city