10.13.2009
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| .China's super-rich bounce back from financial crisis
Thank walmart and those of us who shop there We are giving our own money away, then complain when our jobs leave the country we buy goods from Quote: BEIJING (Reuters) – China's super-rich have bounced back from the financial crisis with a vengeance, and China now has more known dollar billionaires than any other country bar the United States, according to a new report released on Tuesday.
The annual Hurun Report said China has 130 known dollar billionaires, up from 101 last year. The number in the United States is 359 while Russia has 32 and India 24, according to Forbes magazine.
China's rich are getting richer, with the average wealth on the list $571 million, up almost one-third from last year, said compiler Rupert Hoogewerf.
"With the greatest wealth destruction in the west of the last 70 years, we've seen China buck the trend and the wealth seems to be still growing," Hoogewerf told Reuters on the sidelines of an event to unveil the 2009 rich list.
"They've put the credit crunch behind them," he said. "The key driver has been urbanization. You've got all these cities being built, and that requires property developers, iron and steel manufacturers. The latest thing is cars."
| http://news.yahoo.com/s/nm/20091013/bs_nm/us_china_rich  |
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