Saturday, April 7, 2012

The KaChing! Dynasty





 China will soon be home to half the world's billionaires, so can the superrich help the superpower stay in the box seat?


The Chinese economy is booming at a blistering pace.
It is driven largely by the Fudai: the superrich who call the superpower home. Many are just in their forties.
 From building 30-storey towers in just 14 days, to amassing a luxury fleet of sports cars or a private jet - China's million millionaires and 600 billionaires are helping to change the country's landscape.

And China's mad rush to urbanisation is only helping these elites get richer and richer.

People have been always drawn to wealth and the power it entails yet in the last 30 years the now super rich have disposable income that far outstrips that of the Glided Age which was seen at the time as the  height  of income disparity.  Today's top 1% control more wealth than the entire 99% combined.

In China of those who have up-attain  great wealth have so through illegal land grabs and the use of prison labor which can only be called slave labor.

 Prison slaves

China is the world's factory, but does a dark secret lurk behind this apparent success story?

Once an isolationist communist state, over the last 20 years China has become the world's biggest exporter of consumer goods. But behind this apparent success story is a dark secret - millions of men and women locked up in prisons and forced into intensive manual labour.
China has the biggest penal colony in the world - a top secret network of more than 1,000 slave labour prisons and camps known collectively as "The Laogai". And the use of the inmates of these prisons - in what some experts call "state sponsored slavery" - has been credited with contributing to the country's economic boom.

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