Affluence | CHINDIA ALERT: You'll be living in their world, very soon

01/03/2013

* China’s billionaires on rise

China Daily: “China has had more billionaires created by its stock markets this year than in the United States – 212 compared with 211 – a new survey revealed on Thursday.

China's Rich List – The Inside Story

According to the latest Hurun Global Rich List 2013, there were 1,453 people in the world with personal wealth of $1 billion or more at the end of January.

Another significant sign of more wealth being created in the East came with figures showing Asia was home to the highest number of billionaires, with 608, followed by 440 from North America and 324 from Europe, said Hurun researchers.

Among individual countries, the US and the Greater China area dominated with 408 and 357 respectively, followed by Russia, Germany and India.

Between them, the US and China now have half of all billionaires on the planet.

Moscow, with 76 billionaires, is the billionaire capital of the world, followed by New York, Hong Kong, Beijing and London, according to the report.

Mexican telecom czar Carlos Slim, 73, was ranked as the “Richest Man on the Planet” with a personal fortune of $66 billion, followed by US investor Warren Buffett with $58 billion in wealth.

Founder of fashion brand Zara, Amancio Ortega of Spain, shoots into the top three with $55 billion in wealth.

Real estate, telecommunications, media, technology and retail were the most common sources of wealth, the report added.”

via China’s billionaires on rise |Economy |chinadaily.com.cn.

Posted in Affluence, China alert, Economics | Leave a Comment »

Tags: Asia, Business, China, economy, Forbes list of billionaires (2011), Hong Kong, New York, United States, Warren Buffett

01/03/2013

* Hurun rich list stirs Chinese zodiac discussion

English: The carvings with Chinese Zodiac on the ceiling of the gate to Kushida Shrine in Fukuoka ) (Photo credit: Wikipedia)

SCMP: “The publication of the Hurun Global Rich List 2013, which revealed the top 10 wealthiest Chinese billionaires, on Thursday has triggered discussion among Chinese netizens about the Chinese zodiac signs of the rich.

The dragon is the most common zodiac sign among the billionaires, followed by the horse, said a post by China’s Global Times.

Commenting on the list of billionaires, one netizen wrote, “Chinese officials must be laughing at this so-called ‘rich list’.”

Others chimed in with comments on Chinese zodiac signs. “Dragons are born with a kind of self-confidence. They are destined to play a strong role,” one said.

Another claimed, “I will give birth to a ‘dragon baby’ and a ‘horse baby’!”

A third wrote, “Global Times, mind your own business.”

The report, compiled by the Shanghai-based Hurun Research Institute, showed that Hong Kong entrepreneurs make up the majority of the list, followed by those from Beijing, Shanghai and Shenzhen.

The top industry sector favoured by the Chinese billionaires on the list is real estate, followed by manufacturing, finance and investment, and information technology.”

via Hurun rich list stirs Chinese zodiac discussion | South China Morning Post.

Chinese Zodiac (katherinegoh.com)

Posted in Affluence, China alert, Economics, Social & cultural | Leave a Comment »

Tags: Asia, Beijing, China, Chinese zodiac, Hong Kong, List of Chinese by net worth, Shanghai, Shenzhen

24/02/2013

* Will China Ever Be No. 1?

Foreign Policy: “Will China continue to grow three times faster than the United States to become the No. 1 economy in the world in the decade ahead? Does China aspire to be the No. 1 power in Asia and ultimately the world? As it becomes a great power, will China follow the path taken by Japan in becoming an honorary member of the West?

Senior Minister Lee Kuan Yew of Singapore, (Photo credit: Wikipedia)

Despite current punditry to the contrary, the surest answer to these questions is: No one knows. But statesmen, investors, and citizens in the region and beyond are placing their bets. And U.S. policymakers, as they shape the Obama administration’s pivot to Asia, are making these judgments too. In formulating answers to these questions, if you could consult just one person in the world today, who would it be? Henry Kissinger, the American who has spent by far the most time with China’s leaders since Mao, has an answer: Lee Kuan Yew.

Lee is the founding father of modern Singapore and was its prime minister from 1959 to 1990. He has honed his wisdom over more than a half century on the world stage, serving as advisor to Chinese leaders from Deng Xiaoping to Xi Jinping and American presidents from Richard Nixon to Barack Obama. This gives him a uniquely authoritative perspective on the geopolitics and geoeconomics of East and West.

Lee Kuan Yew’s answers to the questions above are: yes, yes, and no. Yes, China will continue growing several times faster than the United States and other Western competitors for the next decade, and probably for several more. Yes, China’s leaders are serious about becoming the top power in Asia and on the globe. As he says: “Why not? Their reawakened sense of destiny is an overpowering force.” No, China will not simply take its seat within the postwar order created by the United States. Rather, “it is China’s intention to become the greatest power in the world — and to be accepted as China, not as an honorary member of the west,” he said in a 2009 speech.

Western governments repeatedly appeal to China to prove its sense of international responsibility by being a good citizen in the global order set up by Western leaders in the aftermath of World War II. But as Kissinger observes, these appeals are “grating to a country that regards itself as adjusting to membership in an international system designed in its absence on the basis of programs it did not participate in developing.”

via Will China Ever Be No. 1? – By Graham Allison and Robert D. Blackwill | Foreign Policy.

China will never match US in innovation: Lee Kuan Yew (wantchinatimes.com)
“The Future of U.S.-China Relations,” a Belfer Center Director’s Seminar with Ambassador Robert Blackwill (belfercenter.ksg.harvard.edu)

Posted in Affluence, China alert, Economics, GeoPolitics, Politics, Uncategorized | 11 Comments »

Tags: China, Deng Xiaoping, Henry Kissinger, Lee Kuan Yew, United States, Xi JinPing

25/01/2013

* China’s Huawei Creeps up on Apple, Samsung

WSJ: “As Samsung Electronics Co. and Apple Inc. try to defend their dominance in the smartphone market, the latest data show China’s Huawei Technologies Co. coming third in terms of market share for the first time, indicating that a rapid increase of smartphone users in China and other emerging markets may be starting to alter the global landscape.

According to research firm IDC, Samsung’s smartphone market share in the fourth quarter through December rose to 29% from 22.5% a year earlier, while Apple’s share dropped slightly to 21.8% from 23%. Meanwhile, Huawei’s share rose to 4.9% from 3.5%, ahead of Japan’s Sony Corp. , whose share also increased to 4.5% from 3.9% a year earlier. Another Chinese company ZTE Corp., came fifth with 4.3%.

“The fact that Huawei and ZTE now find themselves among the Top 5 smartphone vendors marks a significant shift for the global market,” said IDC research manager Ramon Llamas.

via China’s Huawei Creeps up on Apple, Samsung – China Real Time Report – WSJ.

Posted in Affluence, China alert, Digital communications, Economics, innovation, patents | Leave a Comment »

Tags: android, Apple, China, gadgets, Huawei, huawei technologies, International Data Corporation, mobile, Samsung, samsung electronics co, Smartphone, technology, ZTE

25/01/2013

* License plates for automobiles in Shanghai can cost as much the cars

WSJ: “A Shanghai license plate now costs as much as a new mid-range sedan.

The average price for a Shanghai plate soared to 75,000 yuan ($12,000) at the city’s license plate auction over the weekend, roughly equal to the retail price of a brand new, fully loaded Geely MK-II sedan. Shanghai plates went for an average of 50,000 yuan a year ago, meaning prices have risen nearly 2,000 yuan a month.

Yolanda Dong, a market manager at a Japanese firm, paid 77,000 yuan for her plate. By comparison, her Peugeot 307 cost her 100,000 yuan.

“I had to buy the plate no matter what,” said Ms. Dong, who bought her car four months ago and has been bidding to get a Shanghai plate since then. “I can’t have my car sitting there doing nothing.””

via License plates for automobiles in Shanghai can cost as much the cars they are intended to adorn. – China Real Time Report – WSJ.

Posted in Affluence, China alert, Economics | Leave a Comment »

Tags: Automobile, license plate, Shanghai, transportation, Vehicle registration plate

23/01/2013

* Middle-class Chinese snap up overseas luxury

China Daily: “An increasing number of middle-class Chinese are buying luxury goods outside the Chinese mainland, with more overseas travel driving the trend, a KPMG report said on Tuesday.

Seventy-one percent of survey respondents ― middle-class mainland residents ― traveled overseas in 2012, compared with 53 percent in 2008. And 72 percent of them said they bought luxury items during such trips, with cosmetics, watches and handbags being the most popular items.

Brand recognition continues to rise as consumers become more discerning and seek experiential luxury as well as one-of-a-kind luxury brands and products. Respondents said they recognize 59 luxury brands, from 45 in survey conducted in 2010.

The report ― The Global Reach of China Luxury ― is based on a survey of 1,200 middle-class Chinese consumers in 24 cities. Market research firm TNS conducted the study.

Respondents were 20 to 44 years old, with a minimum household income of 7,500 yuan ($1,205) a month in tier-one cities and 5,500 yuan elsewhere.

Chinese consumers associate certain countries with particular products. For example, Switzerland is recognized for its luxury watches, while France scores highest for cosmetics and perfumes.”

via Middle-class Chinese snap up overseas luxury[1]|chinadaily.com.cn.

China’s luxury shopping gets fillip from metrosexual men (thehimalayantimes.com)
Global luxury brands cash in on more Mainland Chinese travelers (cnn.com)
Could Learning Mandarin Be the New Key to Succeeding in the Fashion Industry? (fashionista.com)
Chinese Shoppers Overtake U.S. as Top Luxury Buyers – Bloomberg (bloomberg.com)
Poor service the key complaint from Chinese luxury shoppers (wantchinatimes.com)
Burj Al Arab ushers in the Year of the Snake (prweb.com)

Posted in Affluence, China alert, Economics, luxury brand, middle class | Leave a Comment »

Tags: Asia, China, Chinese, chinese shoppers, Hong Kong, KPMG, kpmg report, Louis Vuitton, Luxury good, Mainland China

22/01/2013

* Chinese student in France sick of buying luxury goods for other people

SCMP: “Li Yuandong, 23, remembers buying 10 Burberry scarfs, two Burberry handbags, two Louis Vuitton handbags and some luxury perfumes in one day in Paris without blinking an eye.

“Then I blew my ‘millionaire’ identity by hopping on a crowded subway train heading home”, wrote Li, a Chinese graduate student studying engineering in France on his blog.

Li’s post went viral on China’s social media, including Sina Weibo, China’s popular twitter-like service.

In a humorous tone, Li wrote about his side job of buying luxury goods for friends in China, and complained the burden was growing too heavy.

“I became so popular after moving to France,” said Li in his post. “Suddenly everyone wanted to talk to me.”

But the conversations all ended with the same question: “Can you buy me a Louis Vuitton”?

“My bank upgraded me to VIP after seeing the amount of money sent by friends in China,“ he said, “I would easily spend 10,000 euros in a month on hand bags.””

via Chinese student in France sick of buying luxury goods for other people | South China Morning Post.

French luxury goods group PPR buys Chinese jewellery brand Qeelin (independent.co.uk)
Global luxury brands cash in on more Mainland Chinese travelers (cnn.com)

Posted in Affluence, China alert, Economics | Leave a Comment »

Tags: Burberry, China, France, Hong Kong, Louis Vuitton, Luxury good, Paris, Sina Weibo

22/01/2013

* Asian Buyers Snap Up Half of New London Homes

WSJ: “If you’ve just moved into a newly built apartment in central London, don’t be perplexed if your neighbors speak mostly Chinese.

Market-cooling measures in Asia have helped fuel interest in London’s real estate market—long a popular destination for property buyers on the prowl, says property consultancy Knight Frank. Last year, overseas buyers spent $3.5 billion on apartments undergoing construction in central London, up 22% from the year earlier.

Together, buyers from Singapore and Hong Kong snapped up nearly 40% of all such apartments in central London. Adding in buyers from Malaysia and mainland China, Asian buyers accounted for roughly half of all purchases. By comparison, U.K. buyers made up just 27% of all purchases of apartments under construction, according to Knight Frank’s latest figures. Such figures were generally consistent with those seen in 2011.

Among overseas buyers, more than two-thirds bought for investment purposes, says Knight Frank, while another third said they were motivated to buy for a child enrolled at a local university.”

via Asian Buyers Snap Up Half of New London Homes – China Real Time Report – WSJ.

Wealthy Undeterred by New Taxes on London Homes (bloomberg.com)
Battersea sales bonanza as £600m flats sold in four days (standard.co.uk)
Luxury home prices surge in London (gateway-homes.co.uk)

Posted in Affluence, China alert, Economics, Investment in tangibles | 2 Comments »

Tags: apartments in central london, Asia, aviation, Business, Central London, economy, Hong Kong, London, Mainland China, Malaysia, real-estate, Singapore

21/01/2013

* Ex-minister blames China’s pollution mess on lack of rule of law

SCMP: “China had a chance to avoid environmental disasters some 40 to 30 years ago, the country’s first environmental protection chief has lamented amid worsening air and water pollution.

But Professor Qu Geping, who has overseen environmental policymaking since the early 1970s, said pollution had run wild as a result of unchecked economic growth under a “rule of men”, as opposed to the rule of law. Their rule imposed no checks on power and allowed governments to ignore environmental protection laws and regulations.

“I would not call the past 40 years’ efforts of environmental protection a total failure,” he said. “But I have to admit that governments have done far from enough to rein in the wild pursuit of economic growth … and failed to avoid some of the worst pollution scenarios we, as policymakers, had predicted.”

Qu, 83, was China’s first environmental protection administrator between 1987 and 1993. He then headed the National People’s Congress environment and resource committee for 10 years.

After three decades of worsening industrial pollution resulting from rapid urbanisation and industrialisation, China has accumulated huge environmental debts that will have to be paid back, Qu said.

He said recently he regretted that some of the very forward-looking strategies – emphasising a more balanced and co-ordinated approach to development and conservation, that were worked out as early as 1983 – were never put into serious practice when China was still at an early stage of industrialisation.

In 1970, premier Zhou Enlai had invited a Japanese journalist to give a lecture to senior government officials on the lessons Japan had learned from a series of heavy metal pollution scandals that killed several hundred people during a period of rapid industrialisation in the 1950s and 1960s, Qu said.

“But looking back, China fell into the same trap again,” he said. “In some cases, the problems are even worse now given the country’s huge population and the vast scale of its economy.”

via Ex-minister blames China’s pollution mess on lack of rule of law | South China Morning Post.

See also: https://chindia-alert.org/economic-factors/greening-of-china/

Top News: High pollution sparks China anger (bbc.co.uk)
Beijing, China Air Pollution Hits Hazardous Levels (huffingtonpost.com)
Amid Smog Deluge, China Environmental Reports Accused of Fraud (theepochtimes.com)

Posted in Affluence, carbon emission, China alert, Climate change, Consumer protection, Ecology, Economics, Environment, Green, greenhouse gas, Illegal chemicals, Manufacturing, Politics, Pollution, Sustainable development | Leave a Comment »

Tags: Beijing, China, climate, environment, environmental policymaking, Environmental protection, Japan, National People's Congress, pollution, premier zhou, rapid industrialisation, Zhou Enlai

02/01/2013

* China’s taste for pork serves up a pollution problem

This is but an indication of what is going to happen when billions of poor people become affluent enough to want the things that affluent Westerners take for granted.

The Guardian: “Fan Jianjun points to a concrete pipe jutting from the lake bank. Sludge spews from its mouth and arcs across the water, the surface bubbling with the bodies of flies.

Piglets being fed on a farm near Suining, Sichuan province, China - 27 Apr 2009

Fan has lived in Houtonglong village all his 31 years. The water was clear, he says, before the pig farm was built and people’s health began to suffer.

No one consulted the villagers before Shengtai pig farm was built 100 metres from their homes. The farm produces 10,000 animals a year – a relatively small concern in the world of industrialised farming – but there is so much waste to dispose of, the village air is thick with the stench. In the rainy season manure escapes from the farm, covering the roads. Villagers are developing respiratory problems and Fan struggles to raise chickens and ducks, which die soon after hatching.

In the 10 years since the farm arrived, the villagers have tried to get it dislodged. “We pulled down the walls several times, and blocked the gate with mud and trucks,” said Fan, a self-employed businessman. Complaints to the local government have gone unanswered, so Fan turned to internet forums to raise awareness. “We can only hope the farm will stop polluting our environment,” he added. “Our village was once a very beautiful place.”

Pork is China’s favourite meat: last year the country produced 50m tonnes – more than half the world’s total – and as the disposable incomes of China’s 1.3 billion people rise, their appetite is growing. “Pork is wrapped up in ideas of progress and modernity,” said Mindi Schneider, a sociologist at Cornell University. Until the 1990s typical families only ate meat at Chinese new year.

Memories of the devastating famine that killed tens of millions in the early 1960s still weigh heavy on the Chinese psyche. “I’ve heard people talking about eating meat in ‘revenge,'” Schneider said. “It was so limited before. Now it’s like: ‘look at this progress, we can eat as much meat as we want.'”

In 1980 the average Chinese person ate 14kg of meat. Today that person eats over four times more, almost 60kg. In comparison, the average American eats 125kg of meat each year and the average Briton about 85kg.

The livestock industry is transforming accordingly. Seen from a hilltop 200 miles from Houtonglong, the future of Chinese pork production takes the form of 32 identical redbrick pig sheds, shaded by leafy trees.”

via China’s taste for pork serves up a pollution problem | World news | The Guardian.

Posted in Affluence, agriculture, China alert, Consumer, Economics, Environment, Pollution | 1 Comment »

Tags: China, chinese new year, Chinese people, disposable incomes, environment, Farm, Meat, pig farm, Pork

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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* China’s billionaires on rise

* Will China Ever Be No. 1?

* China’s Huawei Creeps up on Apple, Samsung

* License plates for automobiles in Shanghai can cost as much the cars

* Middle-class Chinese snap up overseas luxury

* Chinese student in France sick of buying luxury goods for other people

* Asian Buyers Snap Up Half of New London Homes

* Ex-minister blames China’s pollution mess on lack of rule of law

* China’s taste for pork serves up a pollution problem

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