News Forum - Shenzen now has more billionaires than New York, China has most in world

[Thaiger]

Shenzen now has more billionaires than New York City. Meanwhile, China has 1,133 billionaires, more billionaires than any other country in the world. These 1,133 billionaires make up 34% of the world’s 3,381 billionaires. This is despite the fact China lost 160 of its billionaires in a crackdown last year. The crackdown was on major e-commerce companies. China also curbed lending on over-leveraged property developers. Still, China leads the world in its number of billionaires, according to the Hurun Global Rich List. While Beijing is ranked #1 with 144 “known” billionaires in residence, Shanghai comes in at second place with […]

The story Shenzen now has more billionaires than New York, China has most in world as seen on Thaiger News.

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[Pinetree]

well there are more of them, so that's not a surprise.  1.4 billion people beats 330 million Americans every time.

[Drew]

Chinese billionaires only exist if the Communist Party allows it....how do you lose 160 billionaires in one year as a result of a government crackdown.  lol

[Stardust]

2 hours ago, Thaiger said:

Shenzen now has more billionaires than New York City. Meanwhile, China has 1,133 billionaires, more billionaires than any other country in the world. These 1,133 billionaires make up 34% of the world’s 3,381 billionaires. This is despite the fact China lost 160 of its billionaires in a crackdown last year. The crackdown was on major e-commerce companies. China also curbed lending on over-leveraged property developers. Still, China leads the world in its number of billionaires, according to the Hurun Global Rich List. While Beijing is ranked #1 with 144 “known” billionaires in residence, Shanghai comes in at second place with […]

The story Shenzen now has more billionaires than New York, China has most in world as seen on Thaiger News.

Read the full story

Now compare it in percantage to Monacco

By the way China is still listed as a 3rd world country because of their cross net income of the gdp and means the majority has to live with a sallary monthly under 180 usd per month. If bring a statistic of wealth please bring all infos and compare it by percantage if you compare it with other countries with much lower population!

[AdvocatusDiaboli]

1 hour ago, Drew said:

Chinese billionaires only exist if the Communist Party allows it..

The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC).

What Is Communism? 

Communism is a political and economic ideology that positions itself in opposition to liberal democracy and capitalism, advocating instead for a classless system in which the means of production are owned communally and private property is nonexistent or severely curtailed. 

What is the most famous quote from Animal Farm?

“All animals are equal, but some animals are more equal than others.”

 

 

[DoUKnowWhoIAm]

3 hours ago, Thaiger said:

Shenzen now has more billionaires than New York City.

Which city has the highest number of poor people?

[Poolie]

9 minutes ago, DoUKnowWhoIAm said:

Which city has the highest number of poor people?

Delhi, at a guess?

[dingdong]

3 hours ago, Stardust said:

Now compare it in percantage to Monacco

By the way China is still listed as a 3rd world country because of their cross net income of the gdp and means the majority has to live with a sallary monthly under 180 usd per month. If bring a statistic of wealth please bring all infos and compare it by percantage if you compare it with other countries with much lower population!

the logic of free rolling capitalism:

millions people on the lowest wage and a few very super rich...

[Noble_Design]

3 hours ago, Stardust said:

Now compare it in percantage to Monacco

By the way China is still listed as a 3rd world country because of their cross net income of the gdp and means the majority has to live with a sallary monthly under 180 usd per month. If bring a statistic of wealth please bring all infos and compare it by percantage if you compare it with other countries with much lower population!

What is the source of your $180 GDP per month? World Bank says it's  $10K per year while not that high is still not $180/mth:

[Stardust]

10 minutes ago, Noble_Design said:

What is the source of your $180 GDP per month? World Bank says it's  $10K per year while not that high is still not $180/mth:

Read and understand of the report and what I said! This numbers you shown is including the higher incomes of the middle class and mid up! This is not the majority in China! I had this from the kfw report if I find it in english I will give the link but I am almost sure it is in the world bank report, too. Income by normal workers, whit collar etc etc

[Stardust]

21 minutes ago, Stardust said:

Read and understand of the report and what I said! This numbers you shown is including the higher incomes of the middle class and mid up! This is not the majority in China! I had this from the kfw report if I find it in english I will give the link but I am almost sure it is in the world bank report, too. Income by normal workers, whit collar etc etc

At 295 usd they count them to middle class as I said the numbers in your graphic includes all incomes!

https://www.scmp.com/news/china/society/article/2183771/chinese-disbelief-us295-monthly-salary-makes-them-middle-class

But sure even the middle class in China has big problems to meet ends of the month

[Noble_Design]

10 minutes ago, Stardust said:

Read and understand of the report and what I said! This numbers you shown is including the higher incomes of the middle class and mid up! This is not the majority in China! I had this from the kfw report if I find it in english I will give the link but I am almost sure it is in the world bank report, too. Income by normal workers, whit collar etc etc

I checked World Bank's database and I don't see the $180 that you mentioned. So I will be waiting for that link from you that says so.

Now if you look below the data from World Bank you can see that for 2019 estimate using 2016 survey the rural income is almost $300/month, the rural with a population of 550 million. So even the poorest of  China still earns more than $180/month and this data actually takes account of the entire rural population including those of not working (children, retirees, old people, disabled people etc). So if considering only the income of an actual worker it would be much more than that. http://iresearch.worldbank.org/PovcalNet/povOnDemand.aspx

[Stardust]

3 minutes ago, Noble_Design said:

I checked World Bank's database and I don't see the $180 that you mentioned. So I will be waiting for that link from you that says so.

Now if you look below the data from World Bank you can see that for 2019 estimate using 2016 survey the rural income is almost $300/month, the rural with a population of 550 million. So even the poorest of  China still earns more than $180/month and this data actually takes account of the entire rural population including those of not working (children, retirees, old people, disabled people etc). So if considering only the income of an actual worker it would be much more than that. http://iresearch.worldbank.org/PovcalNet/povOnDemand.aspx

Ah ok then was it 2016 higher the article and numbers I took was about 2018 and 2019

[Noble_Design]

18 minutes ago, Stardust said:

At 295 usd they count them to middle class as I said the numbers in your graphic includes all incomes!

https://www.scmp.com/news/china/society/article/2183771/chinese-disbelief-us295-monthly-salary-makes-them-middle-class

But sure even the middle class in China has big problems to meet ends of the month

Oh ok so now when it conveniences you, you would quote and use the official figures from the Chinese government but at other times you would call them bluff when their numbers/infos disagrees with you. That's cute.

Since I have shown you the World Bank figures and you have shown me the CCP's classification of middle class, I assume you will trust the CCP's figure more right?

[Sparktrader]

4 hours ago, Drew said:

how do you lose 160 billionaires in one year as a result of a government crackdown

Because they made the companies of those 160 billionaires pay the taxes which they hadn't paid in all the years they had been operating and as a result they went out of business? 

A bit ironic what you say when you're likely from The US/Canada... Probably the one and only place on earth with the heaviest control and penalties on taxes, to the point where their citizens which live abroad have to either give up their respective nationalities or have to continue paying tax in the US/Canada.... 

 

[Stardust]

12 minutes ago, Noble_Design said:

Oh ok so now when it conveniences you, you would quote and use the official figures from the Chinese government but at other times you would call them bluff when their numbers/infos disagrees with you. That's cute.

Since I have shown you the World Bank figures and you have shown me the CCP's classification of middle class, I assume you will trust the CCP's figure more right?

I said I took from kfw bank (Germany) and the article was from south China morning post do you understand the differences to global times???

OMG make no sense a conversation on that level

[Noble_Design]

21 minutes ago, Stardust said:

I said I took from kfw bank (Germany) and the article was from south China morning post do you understand the differences to global times???

OMG make no sense a conversation on that level

Where's the link to the kfw article? It doesn't need to be in English.

Now back to your allegations that the majority of Chinese survives on $180/month. As you're a German (am I right?) you do realize that China is VW's biggest market, even bigger than their home country of Germany. https://www.spiegel.de/international/business/chinese-economic-expansion-has-germany-worried-a-1209325.html

Quote

Daimler now earns 20 percent of its profits in the country, BMW 28 percent and VW fully 43 percent.

I believe the cheapest car from VW would be the Polo, I don't know how much they sell for 1 in China but let's assume it's around $15,000. Do you think if the majority of the people are earning $180/mth they could afford that and the cost of running it? Think about it otherwise VW wouldn't be earning >40% of their profits from China alone.

[Stardust]

18 minutes ago, Noble_Design said:

Where's the link to the kfw article? It doesn't need to be in English.

Now back to your allegations that the majority of Chinese survives on $180/month. As you're a German (am I right?) you do realize that China is VW's biggest market, even bigger than their home country of Germany. https://www.spiegel.de/international/business/chinese-economic-expansion-has-germany-worried-a-1209325.html

I believe the cheapest car from VW would be the Polo, I don't know how much they sell for 1 in China but let's assume it's around $15,000. Do you think if the majority of the people are earning $180/mth they could afford that and the cost of running it? Think about it otherwise VW wouldn't be earning >40% of their profits from China alone.

I thought we ended the conversation and did you understand the size of the population and their finance system for cars? By the way VW, BMW, Mercedes etc not only produce in China they are around the world you find BMW production also in Thailand. Anyway you have to read numbers and understand them. By the way I am rooted in 2 continents not only Germany through my Parents. 

[Tim_Melb]

5 hours ago, AdvocatusDiaboli said:

The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC).

What Is Communism? 

Communism is a political and economic ideology that positions itself in opposition to liberal democracy and capitalism, advocating instead for a classless system in which the means of production are owned communally and private property is nonexistent or severely curtailed. 

What is the most famous quote from Animal Farm?

“All animals are equal, but some animals are more equal than others.”

The only problem with what you say is that the CCP is not a Communist organisation, it's a a fascist organisation. 

[AdvocatusDiaboli]

1 hour ago, Tim_Melb said:

is that the CCP is not a Communist organisation, it's a a fascist organisation. 

That calls itself a communist organisation, similar to the German Democratic Republic then.

[Tim_Melb]

17 hours ago, AdvocatusDiaboli said:

That calls itself a communist organisation, similar to the German Democratic Republic then.

Nothing like the German Democratic Republic. More like Hitler's Nazi German. In fact most CCP members hold Hitler up as an example of a good and strong leader. 

[Poolie]

24 minutes ago, Tim_Melb said:

Nothing like the German Democratic Republic. More like Hitler's Nazi German. In fact most CCP members hold Hitler up as an example of a good and strong leader. 

Do they now? I'd like to see a few examples of that.

[longwood50]

Just goes to show you how being a Socialist country can end wealth disparity.  That is why the USA is so evil in that its citizens only enjoy one of the highest standards of living in the world versus the socialist ideal of from each according to their ability and to each according to their needs.  But China, Russia, Venezuala, etc all demonstrate that they have socialist "equality" but some are more equal than others. 

[HiuMak]

2 hours ago, Poolie said:

Do they now? I'd like to see a few examples of that.

It's the mustach. A new fashion statement

[Poolie]

18 minutes ago, HiuMak said:

It's the mustach. A new fashion statement

It hasn't reached my part of the Orient yet.