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Ear to the Ground

China Has Second-Most Billionaires, Behind U.S.

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Posted on Mar 11, 2010
Flickr / FAB O LENS

Well, that didn’t take long. China now has more billionaires (89 if you include Hong Kong) than any other country except for the U.S., which, to be fair, has been working overtime to transfer wealth upward. Unlike the U.S., the Chinese government has promised to distribute its bounty to “make our society fairer and more harmonious.”

BBC:

Just a few days ago in a speech at the start of China’s on-going parliamentary session, Chinese Premier Wen Jiabao said the government must reverse the widening income gap.

“We will not only make the ‘pie’ of social wealth bigger by developing the economy, but also distribute it well,” he said.

Mr Wen added: “[We will] make our society fairer and more harmonious.”

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