The Ka-Ching Dynasty

2012, Economics  -  26 min Leave a Comment
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The economic transformation of China has been electrifying. But with Europe teetering and the US plodding, can the biggest tiger of all keep on roaring? China's super-rich certainly think they can.

The Chinese economy is booming at a blistering pace. China now has almost a million millionaires, six hundred billionaires, and the numbers keep growing at a staggering rate. And China's mad rush to urbanization is only helping these elites get richer and richer.

The focus is certainly on quick growth. Current projections say that in ten years time half the world's billionaires will come from China. While there are warnings signs that the economic woes of Europe and the US will hit China, China's super-rich don't seem concerned.

For some the hope is that the Chinese market will pick up the slack. For others, who have only known the good times, anything else is unthinkable.