Where China's Millionaires Live and How They Got Rich - Bloomberg

You've successfully copied this link. Anyone in the Western world today over the age of 30 grew up thinking of China as a large but poor country. So how is it that China suddenly has so much money to invest in international real estate?

To answer that, we have to travel back to the not so distant past.

It is and Mao Zedong lays dying in bed. This charismatic man led the Communists to victory after more than 20 years of civil war, united the nation and began to earn back the respect from other nations that China for so many decades had lost.

Mao also sealed China from the world and launched the Great Leap Forward and the Cultural Revolution.

Why do Chinese buyers have so much money? | dicajytuh.web.fc2.com

He pushed economic reforms on a bigger scale than anything seen in any other country until the Soviet Block collapsed after the Berlin Wall fell in He was a pragmatist and a man a Western economist could grow to love. The incredible wealth China has today began with these two men.

Not incidentally, he also inducted tens of millions of them into the class of billionaires, millionaires, and merely well off. There are already 63 million Chinese who are upper-middle-class or wealthier — by , million more people will enter the middle class.

At million, China has more internet users than any other country — this number could rise by million in the years to come. And, the number of Chinese looking to buy international property will also continue to grow. Our Chinese consumer site, Juwai. Subscribe to receive the latest news on Chinese buyers, the China market, and Juwai.

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