Post
Topic
Board Economics
Re: 62% of New Millionaires come from Asia
by
Yakamoto
on 12/10/2016, 04:57:50 UTC
The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

Asians are known for their being hard working and persistent.  It is no wonder then that a large percentage of new millionaires comes from Asia.

Yes you are right, and the other thing is that every single major company from Europe or USA or any other part of the world is investing in China and other countries in Asia, because of the small amounts of money they are paying the people there. So China is a country with a large number of hardworking people, so they are happy that they have a job and the companies are happy too. Also, in the past several years the worldwide markets are full with cheap goods from China, so the owners make a good profit on the bases of cheap work force and cheap materials.

Now chinise worker does not work 24/7 for any money,chinse worker is working for few hundred bucks a month and has paid cost of life,apparment and food and travels to his families  during his holidays.Chinise workers is mostly specialist and knows english
China definitely used to be a very heavily industrial nation and it used to have effectively everyone working as long and as hard as tey could to produce goods, but it is true now that China is starting to develop a middle class. Which is good news, because it means there are fewer people slaving away at poor jobs to make ends meet.