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How are there so many millionaires in China? [Copy link] 中文

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Post time 2016-10-14 15:07:06 |Display all floors
China's annual rich list has indicated that the country has more dollar billionaires than the US.The report said there were now 594 dollar billionaires in China, putting it ahead of the United States' 535. How is China, a developing country, producing the world's most millionaires? With the wealth gap between rich and poor widening, is China still a socialism country it claims to be? I mean soicalism or communism means the equal wealth for everyone.

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Post time 2016-10-14 15:23:10 |Display all floors
If we assume that a person`s house, finance products, cars and other assets are in our calculation, it true that millionaires are all around the country. But if we just calculate cash, the result may be half, as what I observed from my friends and realtives.

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Post time 2016-10-14 17:28:40 |Display all floors
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Post time 2016-10-16 02:39:10 |Display all floors
China is no longer a socialist/communist country in the spirit of the word. It has a strong central government that got in power using socialism as carrier.
China is not a developing country. Developing countries get money to feed their people and to develop economically.
China's economy is now more capitalistic than the one from the USA. Money is in most cases the measure of succes or discriminating factor in decisions.
So it is normal that in China there will be more millionaires compared to any other country, just because there are more chinese people.

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Post time 2016-10-16 16:08:44 |Display all floors
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Post time 2016-10-16 16:10:29 |Display all floors
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Post time 2016-10-16 16:10:48 |Display all floors
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