China Next Super Power boasts Most billionaires in the World

China Next Super Power boasts Most billionaires in the World

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China now has the most billionaires In the World and this means its just a matter of time before the have the most millionaires too. However, China has the World’s second most Millionaires and is creating them at a faster rate than the U.S.  Currently, China has more than one million millionaires [/color-box]

The number of millionaires in China are projected to surge by over 70% and could top 2.3 million by 2020.  A stunning new report from UBS and PricewaterhouseCoopers established that one new billionaire was being created every week. If that is not stunning then we don’t know what is; note this is all going on during a supposedly strong recession.

China added a stunning 242 billionaires in 2015 and if it maintains that pace, it will add another 240 plus to its already stunning count.  China now has 596 billionaires overtaking the U.S which has 537 billionaires to take the top spot .

“Despite the slowdown in the economy, China’s richest have defied gravity, recording their best year ever, and creating more wealth than any country has ever done before in a year,” said Rupert Hoogewerf, chairman of Hurun Report.

The Chinese are extremely adept at hiding their resources, so the final count could actually be even 2 or three times higher.

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“Think of it like an iceberg, the tip of it is much smaller than the whole,” he said. “We do our best to find (hidden money), but they go to such extraordinary lengths to hide it,” lamented Rupert Hoogewerf. [/color-box]

Game Plan 

Make a list of companies that you would like to own over the long haul in China and start deploying some amounts of capital now. China’s markets will soar 3-5 levels from  where they are trading presently and if one invests correctly, one could essentially be set for life. Focus on blue chip companies and or companies that support high growth rates.  Some examples are CHL, QIHU, HNP, etc.

 

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