CHINA WEALTH
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CHINA WEALTH
China wealth
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Prada Defies Luxury Brand Hand-Wringing in China | China Fashion ...

Prada Defies Luxury Brand Hand-Wringing in China | China Fashion ... | CHINA WEALTH | Scoop.it
The most populated country in the world has been, until recently, perceived to be a hotbed of conspicuous consumption. Luxury brands rushed in to fill the void and make a bundle. Vuitton, Prada, Burberry — you name it, you ...

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INFOGRAPHIC: Wealth in China | MINING.com

INFOGRAPHIC: Wealth in China | MINING.com | CHINA WEALTH | Scoop.it
With the leadership contest wrapping up in China, here's a handy graphic on where the wealth is concentrated by region, industry and individual.  Oil city Karamay is China's wealthiest city.

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China lets Gini out of the bottle; wide wealth gap

China lets Gini out of the bottle; wide wealth gap | CHINA WEALTH | Scoop.it
BEIJING (Reuters) - China's statistics chief declared on Friday there was an urgent need for reforms to narrow the income gap between rich and poor, addressing head-on an issue that officialdom has ducked...

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Chinese sovereign wealth fund eyes Vancouver Island timberlands investment

Chinese sovereign wealth fund eyes Vancouver Island timberlands investment | CHINA WEALTH | Scoop.it
China Investment Corp., one of the world’s largest sovereign wealth funds, is close to closing a $100-million deal to purchase a stake in Vancouver Island forest company Island Timberlands, according to the Wall Street Journal.

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In the People's Republic of China To get rich is not always glorious

In the People's Republic of China To get rich is not always glorious | CHINA WEALTH | Scoop.it
EVERY year around this time, Hurun Report, a Shanghai-based luxury-publishing and events group, releases its compilation of China’s wealthiest people. The list not...

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How unequal has China become?

How unequal has China become? | CHINA WEALTH | Scoop.it
Officially China is still a communist country, so how is economic success changing society?

 

"The rapid growth of China's economy over the past three decades has been greeted with largely unquestioned assumptions that increasing affluence would lead to a happier, wealthier and more equitable society.

Of course, such assumptions came with an implicit acceptance that some would get rich faster, but also that these benefits would eventually trickle down."

 

"The emergence of a middle class, combined with high levels of personal savings and low levels of personal debt, offers tantalising evidence of China's new-found wealth."

 

"Yet, behind these headlines, there is compelling evidence that although economic growth has created vast wealth for some, it has amplified the disparities between rich and poor."


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Diamonds to Outpace Gold as Spending in Asia Rises: Commodities

Diamonds to Outpace Gold as Spending in Asia Rises: Commodities | CHINA WEALTH | Scoop.it
Diamond prices are poised to rise for the next four years, outpacing gold, as increased spending on luxury goods in China, India and the Middle East outpaces supplies of the precious stone, analysts said.

[excerpt]

“We expect emerging nations, first and foremost India and China, to drive the demand for diamonds in the upcoming years, while consumption of developed nations is likely to moderate somewhat,” said Vladimir Sergievskiy, an analyst at Moscow- based Finam Investment. “On the supply side, the commissioning of new mines should be largely offset by depletion of matured ones.”

Supply Shortage

Global demand for diamonds will probably outstrip supply by 7 million carats in 2016, compared with a shortage of 1 million carats this year, Sergievskiy said. Prices are expected to climb 9.7 percent next year, 2.7 percent in 2013, 3.3 percent in 2014, 3.2 percent in 2015, and 3.1 percent in 2016, he said.


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China's first lady dresses to impress - Aljazeera.com

China's first lady dresses to impress - Aljazeera.com | CHINA WEALTH | Scoop.it
The Economist (blog)
China's first lady dresses to impress
Aljazeera.com
The Chinese label "Exceptio"' would draw blank stares on London's Saville Row or in Tokyo's swanky Ginza district.
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Dijsselbloem: "Levy On Wealth Is Defendable In Principle" | Zero ...

While France's Hollande and Spain's Rajoy are double-teaming the 'unique, exceptional' nature of Cyprus, the non-template nature of the 'deal', the need for Europe-wide guarantees, and that the ESM should be used to ...
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China and Brazil sign $30bn currency swap deal — RT Business

China and Brazil sign $30bn currency swap deal — RT Business | CHINA WEALTH | Scoop.it

A $30 billion currency swap deal between Brazil and China is expected to smooth trade between the two countries despite changing global financial conditions and future crises.

 

The agreement was signed on the sidelines of the BRICS summit in South Africa. Plans for the currency swap were first announced last year at the Rio+20 environmental summit. The idea is that the central banks of the two trading partners are to swap local currency worth up to 190 billion yuan or 60 billion reais ($30 billion) in case turmoil hits the global financial system. 

 

"If there were shocks to the global financial market, with credit running short, we'd have credit from our biggest international partner, so there would be no interruption of trade," said Guido Mantega, Brazil's Economy Minister as quoted by BBC.

 

Over the past few years trade between China and Brazil has boosted significantly reaching $75 billion in 2012. China, the world’s second-largest economy, demonstrated stronger interest in ...


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China takes aim at Apple. Why? - Christian Science Monitor

China takes aim at Apple. Why? - Christian Science Monitor | CHINA WEALTH | Scoop.it
Christian Science Monitor
China takes aim at Apple. Why?
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China: Luxury hotel 'groundscraper' planned in abandoned quarry

China: Luxury hotel 'groundscraper' planned in abandoned quarry | CHINA WEALTH | Scoop.it
Would you spend $300 a night to sleep underground? You might, once you see the jaw-dropping designs for China's latest hotel project (Too cool! RT @AFrancisToGo: I may have predicted vertical farming...
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Myths, More than Traditional Medicine, Driving Rhino Slaughter

Myths, More than Traditional Medicine, Driving Rhino Slaughter | CHINA WEALTH | Scoop.it
A conservationist seeks new approaches to exposing myths driving a wave of rhino poaching.

 

Rhinoceros populations from Asia through Africa are plummeting in the face of burgeoning illicit trade in their horns, much of it driven by myths promoted by criminal smuggling syndicates and targeting the new wealthy in China and Vietnam...

 

Matt Wilkinson: As someone who devotes his days to highlighting wildlife conservation in Africa, when I’m asked to name my greatest concern, without hesitation I say the poaching onslaught devastating rhinoceros populations....

 

...instead of demonizing traditional Asian medical practices solely based on the use of rhino horn, it’s time greater emphasis is placed upon promoting these herbal alternatives. With perfectly valid and cost effective herbal remedies, who exactly is benefiting from the trade in the prohibitively expensive rhino horn? Surely not the end user....

 


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The New York Times goes dark in China after exposé on premier’s family’s fortune

The New York Times goes dark in China after exposé on premier’s family’s fortune | CHINA WEALTH | Scoop.it
The website of The New York Times has been summarily blocked in China after the paper published a report outing the immense wealth that Premier Wen Jiabao's family has built up during ...

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Most foreign investment in BRICs isn’t foreign at all—it’s tycoons using tax havens

Most foreign investment in BRICs isn’t foreign at all—it’s tycoons using tax havens | CHINA WEALTH | Scoop.it

Each of the BRICs have big problems with tax dodging, which saps billions from national treasuries and—in the case of Russia, India, and China—suggests the newly rich are failing to share the wealth with the poor, leading to widening income inequality (pdf p.88). (Brazil has issues with tax avoidance by multinationals rather than individuals...) The clearest sign that BRICs are leaking tax revenues is that each country’s biggest source of outside investment is a tax haven. China counts the tiny Caribbean bolthole of the British Virgin Islands as its biggest source of foreign investment (not including the Chinese territory of Hong Kong). India has Mauritius, Russia has Cyprus, and Brazil has the Netherlands. The explanation for these incongruent flows of cash is that wealthy nationals are sequestering their income offshore to avoid paying tax, and then bringing it home  dressed up as foreign investment to disguise the source of the funds

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Rich Chinese Flee, Bringing Their Wealth With Them - CNBC.com

Rich Chinese Flee, Bringing Their Wealth With Them - CNBC.com | CHINA WEALTH | Scoop.it
CNBC.comRich Chinese Flee, Bringing Their Wealth With ThemCNBC.comA new report in China shows that 150,000 Chinese – most of them wealthy – emigrated to other countries in 2011.

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China bans ads on gift-giving to officials: media

China bans ads on gift-giving to officials: media | CHINA WEALTH | Scoop.it
Beijing (AFP) Feb 7, 2013 - China has banned ads that encourage giving luxury gifts to authorities, state media said Thursday, the latest push against official extravagance since new leaders took charge vowing better governance.

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Elite in China Face Austerity Under Xi's Rule - New York Times

Elite in China Face Austerity Under Xi's Rule - New York Times | CHINA WEALTH | Scoop.it
New York Times
Elite in China Face Austerity Under Xi's Rule
New York Times
By ANDREW JACOBS. Published: March 27, 2013.
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China and Russia: Best frenemies forever? - Fortune

China and Russia: Best frenemies forever? - Fortune | CHINA WEALTH | Scoop.it
Fortune
China and Russia: Best frenemies forever?
Fortune
FORTUNE -- Chinese leader Xi Jinping's choice of first overseas stop shortly after his inauguration as the new Communist Party chief and the president of the country has raised some eyebrows.
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Chinese Citizen Sentenced in Military Data-Theft Case - China Digital Times (CDT)

Chinese Citizen Sentenced in Military Data-Theft Case - China Digital Times (CDT) | CHINA WEALTH | Scoop.it

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China Tightens Regulations on Wealth Management - Wall Street Journal

China Tightens Regulations on Wealth Management - Wall Street Journal | CHINA WEALTH | Scoop.it
Wall Street Journal
China Tightens Regulations on Wealth Management
Wall Street Journal
They are called wealth-management products, which some Chinese regulators have said are sold with limited oversight or disclosure of what they contain.
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