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China's route to riches
How did a poor communist country transform itself into having the second most billionaires in the world, after the United States, in just over a generation? That is the billion dollar question. Hurun, which tracks the wealthy, says that they have identified 400 billionaires in China, but there are another 800 yet to be profiled. I went to Shanghai to find out, since it's one of the cities where the rich dwell in China. Hurun estimates that one in seven people in Shanghai and Guangdong are millionaires. It's even higher in Beijing, where it's one out of six. It's an extraordinary change from a centrally planned ... (full story)
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