Forbes: World's Top 10 Billionaire Cities; Beijing Overtakes New York
WOW, it's apparently raining money in China:cheers:
Anyhow, here is Forbes' Ranking of the World's Top 10 Billionaire Cities for 2021, this is based on CITY PROPER, so for New York, just the 5 boroughs(does not include CT, NNJ or Long Island, which would undoubtedly vault NY well past Beijing), and for SF, just the 47 sq miles--so SF now has 1 billionaire per square mile:haha: Rank/City, Billionaires(change from last year) 1 Beijing, 100(+33) 2 New York, 99(+7) 3 Hong Kong, 80(+9) 4 Moscow, 79(+9) 5 Shenzhen, 68(+24) 6 Shanghai, 64(+18) 7 London, 63(+7) 8 Mumbai, 48(+10) 8 San Francisco, 48(+11) 10 Hangzhou, 47(+21) https://www.forbes.com/sites/johnhya...h=496b69ec43e3 |
That's sure a lot of new billionaires for a year that's been an economic depression for most everyone else.
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Also a lot of billionaires for a supposedly communist country. |
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Monkey, Bilboa...GREAT points!
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Seems to me they've been going in the opposite direction ever since Deng Xiaoping was in power. |
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I find it difficult to believe that even if China pushes more towards socialism and communism that their stock of billionaires will dry up. |
This is absolutely nothing to be proud of. Beijing is an much poorer city than NY and all this does is exemplify the grotesque socio-economic disparities in contemporary China.
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From my experience in China, the best way to describe whats going on is that China is a subcontinent, not too unlike Europe, being run as a giant for-profit conglomerate corporation posing as a unitary state, called the CCP. The CCP owns all the land and collects property taxes legally as "rent". They have a C-suite of executives, the CEO being Xi, although unlike a CEO, Xi essentially answers to no one. They operate without rule of law, distributing and coordinating resources and people as they see fit, just like a company. In this day and age, a nation state cant forcibly relocate people or resources on a whim.. but a company sure can.
The corporate nature of the CCP is why China doesnt play fair in any of the world's international systems, especially intellectual property law: They are not trying to be an ethnno-state like the various nations of Europe... being a "country" is not the goal. The CCP couldnt turn China into an ethno-state even if they wanted to, because they already rule over hundreds, if not thousands, of different ethnicities just within China. Whether we choose to realise it or not, the CCP is not China, they are an absolutely massive conglomerate corporation currently in control of all the property in China, and they are operating on the world stage just like any other corporation: they are playing to win |
I'm surprised that SF city has more billionaires than LA city, given the latter's extensive boundaries.
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China isn’t really communism so much anymore. It is totalitarian state run capitalism.
Capitalism with Chinese characteristics. |
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https://en.m.wikipedia.org/wiki/Stat...ion_Commission ‘As of 2017, its companies had a combined assets of CN¥161 trillion (US$26 trillion), revenue of more than CN¥23.4 trillion (US$3.6 trillion), and an estimated stock value of CN¥50 trillion (US$7.6 trillion), making it the largest economic entity in the world.’ |
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I agree with you btw. |
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We could debate all day about what China is, it's complicated. But as of right now, their system isn't communism, the existence of billionaires at all kinda proves that. |
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Yeah the problem with LA is that its so decentralized. Its better to judge LA on a county level
In LA County there were 58 billionaires in 2017 https://laist.com/2017/05/15/la_billionaires_2017.php And in Orange County there were 12 in 2017 https://www.ocbj.com/news/2017/mar/2...include-12-oc/ So thats at least 70 in greater LA and that doesnt include Ventura, SB, or Riverside Counties |
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However, hundreds of millions of them overcame poverty, mostly in their urban areas, which should be good news to us, because it means new consumers and business opportunities for us in the end. The problem is their regime is still nasty. And they think their workforce is not ready to face global competition yet. The real interesting point is that there is an actual and massive Chinese middle class now. People pretty much like us, who want to live decently, enjoy life, travel the world, have some fun and all. Now billionaires are obviously only something extremely marginal, like a bug in Liberal capitalism. How many billionaires in your acquaintances or circle of friends? Most likely none. |
China probably created a lot of new billionaires by selling the world masks and gloves! Lol
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