A middle class family might own half a dozen different empty apartments in various new cities.
I don’t know if this is true. But a Korean (south) investor I met last year said that the number of millionaires in China equals the total population of the U.S. Pretty crazy if true.
Quote from: Waffle Whiffer on August 05, 2014, 10:30:43 AMI don’t know if this is true. But a Korean (south) investor I met last year said that the number of millionaires in China equals the total population of the U.S. Pretty crazy if true.Seems dubious. They have a population of approximately 1,350 Millions.The US has 300+ million as of the last census.That would make nearly a quarter of their population millionaires. They must be counting in some other form of currency than USD to get to the term "millionaire".
Something's funny with that claim.
There are now more millionaires in China than in Japan, as the wealthiest Chinese reaped huge returns from shadow-banking-related financial products, a new study revealed.China had 2,378,000 millionaire households in 2013, a rise of 82% from the previous year and almost double the 1,240,000 millionaire households in Japan, according to the Boston Consulting Group Global Wealth 2014 report unveiled on Tuesday.China’s millionaire population is now the world’s second-largest, trailing only the U.S., which boasted 7,135,000 millionaire households in 2013.BCG defines a millionaire household as those with $1 million in total liquid wealth, including stocks, cash and other financial investments but not real estate, collectibles or luxury items.
Quote from: Waffle Whiffer on August 05, 2014, 10:30:43 AMI don’t know if this is true. But a Korean (south) investor I met last year said that the number of millionaires in China equals the total population of the U.S. Pretty crazy if true.Seems dubious. They have a population of approximately 1,350 Millions.The US has 300+ million as of the last census.That would make nearly a quarter of their population millionaires. According to wikipedia, their average per capita GPD in USD is in the 6,000 dollar range.They must be counting in some other form of currency than USD to get to the term "millionaire".