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Sat Dec 8, 2012, 09:25 PM

"Communist" Shanghai has more of these than LosAngeles, CA !!!

BRICs Give US Cities a Millionaire-Inferiority Complex?

New data from WealthInsight shows that Beijing and Shanghai each have more multi-millionaires now than Los Angeles. I read somewhere that China has 147 Billionaires
and over MILLION millionaires. They had none while Mao was the ruler.

That explains why China economy is growing 4 to 5 times faster than US.
Just a couple of years away from China becomes biggest economy on earth.
But this is hardly a surprise. China had the world's largest GDP for over
thousand years before the industrial revolution in Europe.

http://www.cnbc.com/id/100289964

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Reply "Communist" Shanghai has more of these than LosAngeles, CA !!! (Original post)
golfguru Dec 2012 OP
LARED Dec 2012 #1
golfguru Dec 2012 #2

Response to golfguru (Original post)

Sat Dec 8, 2012, 09:39 PM

1. Shanghai also has 8 to 10 times more people than Los Angeles nt

 

And China has about 5 to 6 times more people that the US.

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Response to LARED (Reply #1)

Sat Dec 8, 2012, 10:45 PM

2. And during Mao's reign they were all dirt poor

China has made amazing progress economically in just 30 years by encouraging people to get rich.

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