what you think about this (Chinese are billionaires thanks to us the American people)?

Question

BEIJING (Reuters) - The twenty-six year-old daughter of a rags-to-riches property developer is China's wealthiest person, with a $16 billion ( 7.8 billion pound) fortune, Forbes magazine said on Monday.

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Yang Huiyan shot to the top of the China Rich List after the firm her father founded floated on the Hong Kong stock exchange in April, creating five billionaires at once.

Her low-profile father, Yeung Kwok Keung -- who worked as a farmer and on construction sites before making his fortune, according to Chinese media -- had transferred his stake in Country Garden Holdings Co. to his daughter in 2005.

Also Asia's richest woman, the Ohio State University graduate this year married the son of a top Chinese official she met on a blind date, the China Daily reported.

She is one of the few on the list to have inherited her wealth, in a country where booming economic growth has created fortunes virtually overnight.

The economy has expanded so fast that the country's 40 wealthiest people are now all dollar billionaires, compared with just 15 last year, Forbes said in a press release.

Their combined net worth more than tripled to $120 billion, from last year's $38 billion, Forbes said.

But as the number of the super-rich grows, officials in Beijing are stepping up efforts to tackle the gulf between rich and poor because they fear it threatens social stability.

Real estate was among the most lucrative sectors. Eight of the top ten have big property development interests.

"Household incomes are rising rapidly, and a growing number of people are moving into cities from rural areas. Those trends are creating great business opportunities for property developers," said Russell Flannery, Forbes senior editor and compiler of the China Rich List.

Country Garden, based in the southern city of Guangdong focuses on building villas, townhouses and large apartments.

Yang's father is still chairman and chief executive while she sits on the board as an executive director.

Last year's number one on the Forbes list, Wong Kwong Yu, slipped nine places to squeeze into the top ten, even though his fortune rose by nearly 50 percent.

Forbes compiles its list by looking at stakes in listed and private companies and other assets. It excludes Hong Kong residents like tycoon Li Ka-shing -- estimated by Forbes to have a $22 billion fortune in January.

Answer 1

When I was young I was constantly reminded of the starving people in Asia. In the late fifties China had a famine , and over 17 million people died from lack of food. I am pleased that China is now doing better, but would be even more pleased if the increase in wealth were helping more people, but developing capitalism always produces extreme disparities. The problems in the US is of our own making. We have a trade deficit with all of our trading partners so putting the blame on China is silly. They account for only 10% of our trade deficit. The US is still the richest and most powerfull nation on earth and whining and blaming others for our problrms is unseemly.

Answer 2

What you hear are the new rich chinese. You came to know of that only now I guess because with all the talks about china\s economy and the recall on chinese products etc, and now a list of rich chinese.

Way before china's economy hit the roof, chinese are spread all over the world, In asia there are hundreds of business tycoons, in USA even more. In europe they are there since time immemorial.

I will ask you this, in almost every nation there is china town. In usa, how long have china towns there been present? maybe you werent born yet.

Ergo, its not thanks to USA. These people really work hard, they are laborers, americans are capitalist so they are on the other end. US companies earn more profit, because of the chinese. Cheap labor cheap mat'ls etc.

The deficit or problem in USA right now, is the doing of your president, he spent your money on war on iraq and now americans are paying for it.

Answer 3

Smart, clever, good business savvy, able to take advantage
of an opportunity that has to be seized upon and developed and in fact they have mastered the secret of being Billionaires, and what pray tell, is that secret you may ask ...

"Find a need and ... fill it".

Cheap Slave and Child Labor = low low low manufacturing costs mixed thoroughly with USA Corporate Outsourcing Greed and ... voila .... you have Chinese Billionaires!