The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said on Thursday, calling it a “turning point” for the super-wealthy. Communist-ruled China now has 596 billionaires, up a “staggering” 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans. Read full article
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!
Billionaires in a communist controlled country? Something does not sit right with this.Oct 16th, 2015 - 04:53 pm - Link - Report abuse 0
@1 Clyde15Oct 16th, 2015 - 05:33 pm - Link - Report abuse 0
I'll bet you that most of these 'billionaires' are members of the 'Party', and those that aren't already have the majority of their cash squirrelled away outside of China in case of a return to the bad old days, and a fast jet on constant standby to get the hell out of dodge.
Communism was always a pipe dream. Sounds great in theory, but it can never work in practice. And the Communists did have many years to 'refine' their wonderful Communist Utopia. Such a wonderful Utopia it was that they had to build wall around it to keep people in.
And in each and every one of these Communist regimes there were dictators that were worst tyrants than those they claimed to be replacing.
It sort of reminds me of Cromwell. They got rid of the 'Tyrant' King (who wasn't really that much of a Tyrant really), and replaced it with a religious military dictatorship, that banned Christmas, persecuted both Catholics AND Protestants, and had Cromwell crown himself King in all but name.
Fortunately for the UK, this madness only lasted 11 years before sanity reasserted itself.
Other countries weren't so lucky.
China isn't really communist.Oct 17th, 2015 - 09:50 am - Link - Report abuse 0
Maybe the old guard in government is, but most of the people are business oriented & very materialistic.
Communism does not suit the Chinese entrepreneurial character.
l can understand them embracing communism in the 1930s as China & her people were being exploited by all sorts of people & the Nationalist government were so corrupt & ineffectual.
Once had very tempting offers to set up a business in Shanghai.