China is minting billionaires at an astonishing pace

[Villages PL]

China is minting billionaires at an astonishing pace (http://www.cnbc.com/id/101027659)

Are Chinese billionaires giving communism a bad name? :thumbup:

[Topspinmo]

Seems nobody wants to post, so I'll give'em something to rebut!!

Are they the ones that are printing counterfeit dollars and dumping it on the world market driving down the dollar!

IMO Nothing changed in china still the haves (connected to the government and the have not's the common people. IMO the gap is as wide as the Pacific ocean which with no environmental laws, stealing medical and industrial patents, or honoring patent/trade marks and of course the Gov. is not stupid giving Trillions away each year every country around the world and especially countries that HATE them . Yea I suppose their are making more billionaire at unfair trade expense.

Sooner rather than later the black lung going to take it toll with all that slim they are breathing.... No thanks I still say the USA is still the greatest country on earth even with all the jobs by CEO's shipped overseas.

[mainlander]

The not-so-secret truth is that the Chinese government is wholeheartedly endorsing and supporting the largest building boom ever seen in history. There are cities far bigger than "The Villages" repleat with shopping malls and businesses that have never been owner occupied... they stand empty... yet the building continues at a rapid clip as middle class investors buy 3,4 5 of these homes and save to buy more. Unbridled capitalism or communism run off the rails. If you thought the U.S. housing bubble hurt,, watch for this bubble to burst,, all in my opinion of course.

[jblum315]

Read the novel "The Five Star Billionaire" for a look at how this is working out for ordinary people in China.
from a reader's review: There are five important human characters who actually are equally important, but it is the city of Shanghai that the book is actually focused on. We see the city from the viewpoint of the five immigrant characters, each of whom have something he or she is attempting to gain from the city. The title character is Walter Chao who has some sort of connection eventually with each of the others. He might appear to be the most important of the characters although I would argue with that. He's a somewhat shadowy character with influence over the others, but I don't see him as truly being more important.

The stories of Phoebe, Justin, Gary, and Yinhui in that order until the last few chapters in which the sequence is interrupted. Walter appears periodically as the writer of a series of articles on becoming a billionaire. Each of the five, of course, have appearances when their story intersects with another's.

The author can also be considered a personality as an omniscient observer, especially in the especially humorous chapter 7.

This is a complex novel, but easy and vastly enjoyable reading. This is the first book by the author that I've read. It's not likely to be the last. The Chinese (rather than American) structure is noticeable, but doesn't in the least detract from anyone's enjoyment of the total story.

[Golfingnut]

Yet all of us rush to Walmrt to buy china made products at ever increasing rate as well. You get what you pay for.

[donb9006]

The not-so-secret truth is that the Chinese government is wholeheartedly endorsing and supporting the largest building boom ever seen in history. There are cities far bigger than "The Villages" repleat with shopping malls and businesses that have never been owner occupied... they stand empty... yet the building continues at a rapid clip as middle class investors buy 3,4 5 of these homes and save to buy more. Unbridled capitalism or communism run off the rails. If you thought the U.S. housing bubble hurt,, watch for this bubble to burst,, all in my opinion of course.

2 theories...the three gorges dam will displace millions as the water rises...that's where they're supposed to go. The other is they want to move the millions of peasant farmers into cities so the big boys can scoop up their farmland.

Yet all of us rush to Walmrt to buy china made products at ever increasing rate as well. You get what you pay for.

Because it's cheap. Even with shipping. Labor is the highest cost here...not there.

[graciegirl]

Read the novel "The Five Star Billionaire" for a look at how this is working out for ordinary people in China.
from a reader's review: There are five important human characters who actually are equally important, but it is the city of Shanghai that the book is actually focused on. We see the city from the viewpoint of the five immigrant characters, each of whom have something he or she is attempting to gain from the city. The title character is Walter Chao who has some sort of connection eventually with each of the others. He might appear to be the most important of the characters although I would argue with that. He's a somewhat shadowy character with influence over the others, but I don't see him as truly being more important.

The stories of Phoebe, Justin, Gary, and Yinhui in that order until the last few chapters in which the sequence is interrupted. Walter appears periodically as the writer of a series of articles on becoming a billionaire. Each of the five, of course, have appearances when their story intersects with another's.

The author can also be considered a personality as an omniscient observer, especially in the especially humorous chapter 7.

This is a complex novel, but easy and vastly enjoyable reading. This is the first book by the author that I've read. It's not likely to be the last. The Chinese (rather than American) structure is noticeable, but doesn't in the least detract from anyone's enjoyment of the total story.

WoW Jeanne. A+ on THAT book report. I am going to get it and read it pronto.

[Bavarian]

China does not treat its people well. When in Shanghai, we saw at times run down apartment buildings many of them, a local tour guide said that the people there would be moved to new places in Chunking, the old places torn down and new people would move in, but the original residents would not be allowed to move into them. Said it like it was normal. Only time you can see Shanghai is a night when the smog disappears. This shows what can be done when the Government runs everything and the people are pawns.