Tuesday, November 13, 2007


"The United States has more billionaires than any other country: 415 by the last count of Forbes magazine. No. 2 and closing fast? China. A year ago, there were 15 billionaires in China. Now, there are more than 100, according to the widely watched Hurun Report. Forbes has documented 66. ..As much as the bounty of billionaires is a source of pride, it is also a potential cause for concern in a nominally Communist country. Per capita income in China is less than $1,000 a year." (New York Times, 7 November)
China is a fast developing capitalist country and just like any other capitalist economy the gap between the rich and the poor is immense. RD

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