Beijing overtakes New York as new 'billionaire capital'

All that says is the wealth inequality in China is much greater than Murica, a sign of potential instability.
 
Orgasmo said:
All that says is the wealth inequality in China is much greater than Murica, a sign of potential instability.
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The people will not rebel against their communist leaders. Even if they do, so what? It will become stronger with a democracy! Already now they own trillions of our debt, take our jobs, carry out illegal currency dumping, steal islands in the pacific from Japan, don't integrate our culture and will soon surpass us as the global leader.
 
A total of 100 billionaires are now living in the Chinese capital, compared with 95 in New York, the report says.
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Beijing population: 11.5 million

NYC population: 8.4 million

Beijing billionaires per million: 8.6

NYC billionaires per million: 11.3

We still win!
 
Orgasmo said:
All that says is the wealth inequality in China is much greater than Murica, a sign of potential instability.
Click to expand...


The wealth gap in China is much bigger than in America. Shit, in America poor people have cars and houses....
 
well, yeah, second largest GDP per country with a PPP of barely over 13k, obviously there is going to be an extreme divide there. USA still doubles them in billionaires as a whole, with only about 23% of the population.
 
I love the ignorance ITT. "well per capita ...", "well, wealth inequality" ...

Let me give you a non-theoretical perspective. I just got off the phone with our guy in Beijing and he is bringing investors to buy our US assets. That is what their money is being used for.

Anecdote #2: My ex-business partner is from Shanghai. Last summer he met with a friend from school at one of the largest developments in NYC. Turns out his friend is owner (through their holding company) of the entire development.

Keep telling yourself what makes you feel good, while I will stick to facing reality as it is and as it is likely to be in the near future.
 
Uh oh. That means if Bernie gets elected he'll probably nuke Beijing.
 
therealdope said:
I love the ignorance ITT. "well per capita ...", "well, wealth inequality" ...

Let me give you a non-theoretical perspective. I just got off the phone with our guy in Beijing and he is bringing investors to buy our US assets. That is what their money is being used for.

Anecdote #2: My ex-business partner is from Shanghai. Last summer he met with a friend from school at one of the largest developments in NYC. Turns out his friend is owner (through their holding company) of the entire development.

Keep telling yourself what makes you feel good, while I will stick to facing reality as it is and as it is likely to be in the near future.
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It's no secret that they don't want to invest in their own country.
 
therealdope said:
I love the ignorance ITT. "well per capita ...", "well, wealth inequality" ...

Let me give you a non-theoretical perspective. I just got off the phone with our guy in Beijing and he is bringing investors to buy our US assets. That is what their money is being used for.

Anecdote #2: My ex-business partner is from Shanghai. Last summer he met with a friend from school at one of the largest developments in NYC. Turns out his friend is owner (through their holding company) of the entire development.

Keep telling yourself what makes you feel good, while I will stick to facing reality as it is and as it is likely to be in the near future.
Click to expand...
So they are using that money to invest in the United states? The seems like a good reality for Americans.
 
SODACKER said:
So they are using that money to invest in the United states? The seems like a good reality for Americans.
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Yes - In some cases. In other cases, they are just buying assets. The latter is ultimately how you obtain control. I don't want to describe our deal specifics but it's not a simple equation. Many large US corps rely on China to back fill revenue and margin growth targets. Anyone who thinks it's all about imports coming into the US is completely clueless. They are reliant on us, and we on them. The issue is that they are buying things that matter with the incongruous amount of cash they have. It's not just the US's money that they have.

What matters is the things they are buying. They aren't stupid or opportunists and they have a much longer investment horizon than we do. Internally, we don't think about what is coming in the near future w.r.t. China daily, but it's definitely a weekly tactics discussion.
 
The focus , the dedication of the Chinese is scary. They might be literally scared by their government to perform to perfection.
Funny line In a show i watch, a government official says ,did you see the Chinese army drummers , the precision , they were scared to death to fail..now imagine that dedication of they want war..
American patriotism is at is lowest, the English language has been dissolved damaging it's patriotic infrastructure
 
Bloodworth said:
The focus , the dedication of the Chinese is scary.
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Meh - I'm concerned about their patience as investors and taking advantage of our PubCo quarter-to-quarter focus that is a cluster-fuck of a circle jerk and no way to build long lasting, dominant companies. I've seen too many great business ruined by PubCo CEOs who are solely focused on selling to the street and managing the income statement.
 
Doesn't mean all that much, really. A lot of the reasons for the numbers have to do with Millionaires fleeing NY state and city taxes.

Wealthy former NY`ers like Tom Golisano and Terry Pegula all place their "residence" in Florida. But spends weeks even more than a month in NY on occasion. Golisano made it a point to say he was leaving NY because of more government taxation.

When you have a Governor and Mayor that goes, "Oh you're Rich?! Lets tax you MOAR!". Don't expect them to stick around and take it in the ass. They didn't get rich cause they sat around and let their wealth hemorrhage through taxation. They invested and protected their assets.
 
therealdope said:
Yes - In some cases. In other cases, they are just buying assets. The latter is ultimately how you obtain control. I don't want to describe our deal specifics but it's not a simple equation. Many large US corps rely on China to back fill revenue and margin growth targets. Anyone who thinks it's all about imports coming into the US is completely clueless. They are reliant on us, and we on them. The issue is that they are buying things that matter with the incongruous amount of cash they have. It's not just the US's money that they have.

What matters is the things they are buying. They aren't stupid or opportunists and they have a much longer investment horizon than we do. Internally, we don't think about what is coming in the near future w.r.t. China daily, but it's definitely a weekly tactics discussion.
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Said assets still pay American taxes and are bound by American law, also you seem to ignore that a lot of these assets are simply byproduct of corruption and created by people who may want to flee China eventually.

The US can live without China, the opposite is not true.
 
Also Beijing is the only quasi-livable city in China, the US has tons of cities who are worthy of billionaires.
 
One should consider that China had exactly one billionaire 13 yrs ago (according to Forbes).
 
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