How is China coping with our economic difficulties?

We all know how the West is coping (or not) with the global economic downturn, but there’s a really interesting article on the BBC website about the impact on China who are, or at least always have been, the world’s number one manufacturer of our “luxury” items, such as toys. But as we spend less on said luxuries, the Chinese workers are out of a job.

One quote caught my eye:

… at the top of the newly created wealth list, China’s 101 billionaires are hurting too.

They’ve seen their income fall by more than a fifth in the last year.

Yang Huiyan, a 26 year old property heiress, who was last year’s number one on the China Hurun Rich List has slipped to number three in the newly published version – her wealth dropping by £5bn to just below £3bn.

As always, my reaction is completely sympathetic. Only £3bn a year? Awwww, diddums.

Advertisements
%d bloggers like this: