From no billionaires in 2002, to 106 in 2007.

[touchring]

A country that had no superrich entrepreneurs in 2002 now boasts 106, second only to the U.S.

GEOFFREY YORK

October 11, 2007

BEIJING -- China's booming stock markets are creating a new elite class of the superrich, giving the country more billionaires than any country in the world except the United States.

The dramatic rise of Chinese share prices, combined with surging property values, has fuelled a remarkable sevenfold increase in the number of billionaires in the country over the past year.....................

http://www.theglobeandmail.com/servlet/story/LAC.20071011.RCHINARICH11/TPStory/Business

 

[socalboy]

Yea, but they're still trying to peg to the USD, which is giving rise to roaring inflation in China. Either China will have to unpeg, or its economy is ultimately going to slide into depression due to hyperinflation. Either way, that static is likely to change.

 

[touchring]

Yea, but they're still trying to peg to the USD, which is giving rise to roaring inflation in China. Either China will have to unpeg, or its economy is ultimately going to slide into depression due to hyperinflation. Either way, that static is likely to change.

China is made up of many economies at different economic stages. There are the major cities that are overheating and facing serious inflation, and there are also countryside towns and inland cities that are lagging behind because all the money went to the major cities.

A depression might not be a bad idea for these towns and inland cities.