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Business/Finance
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Title: Wealth of China's millionaires to reach US$8.25tn by 2020
Source: [None]
URL Source: [None]
Published: Oct 31, 2015
Author: staff
Post Date: 2015-10-31 20:56:20 by Tatarewicz
Keywords: None
Views: 312
Comments: 17

Want..

A report by Swiss banking group Julius Baer says the total wealth of Chinese millionaires will be US$8.25 trillion by 2020, reports the state-run China News Service.

The report said the wealth of Asian millionaires will increase to US$14.5 trillion, with Chinese millionaires making up the majority group.

Julius Baer said the Hong Kong stock market has grown steadily and is stronger than that of Singapore. The accumulated wealth of Hong Kong millionaires will be US$1 trillion in 2020. The nominal GDP of Hong Kong will have increased by 42% from 2010 to 2016 and the wealth of the richest people in Hong Kong will have risen by 56% over the same period, the report said.

Julius Baer said it is holding a positive view of the prospects for Hong Kong's economy, estimating growth of 2.5% this year.

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Begin Trace Mode for Comment # 11.

#1. To: Tatarewicz (#0)

Last year the Chinese had a total of $4 trillion stashed in British banks in the Caribbean. This is according to Zero Hedge. This year the Chinese sent $950 billion out of the country using fake invoices. When the Dollar Dies, we will have to arrest the Bankers and seize their assets to fund Debt Cancellation. WE should seize the Chinese money and send it to the people who are taking over China after the crash to cancel their Unpayable Debts. I would seize all those homes owned by overseas Chinese in the US. They ran homes up to a million dollars in Palo Alto and now to $2 million. The FED is holding $1.7 trillion in bad mortgages. The banks also own lots of empty homes. Sell them all and drive home prices down in impacted areas. That and running a few million illegal aliens out of the country will lower rents and home prices as well.

Horse  posted on  2015-10-31   22:18:50 ET  Reply   Untrace   Trace   Private Reply  

(Chinese) ran homes up to a million dollars in Palo Alto and now to $2 million.

Simple supply/demand economics says says build more homes if you want the price to drop. Facilitating additional construction by eliminating bureaucratic impediments would provide homes for Chinese and anyone else plus providing local employment. Not rocket science.

Tatarewicz  posted on  2015-11-01   23:36:11 ET  Reply   Untrace   Trace   Private Reply  

There is a limit to the number of homes you can build in limited space. America should never let that many foreigners into the country.

Horse  posted on  2015-11-01   23:56:57 ET  Reply   Untrace   Trace   Private Reply  

North America is not limited in terms of building sites, food production areas. Adequate water if intelligently redistributed. Then there is always up.

Tatarewicz  posted on  2015-11-02   20:34:55 ET  Reply   Untrace   Trace   Private Reply  

Real estate lobby won't allow you to build up in Silicon Valley. Our balance of trade went haywire when went over 150 million in population. We had to import natural resources. Oil was less than $3 a barrel when we only had 180 million people. Wages have declined ever since. You will never repeal the law of supply and demand.

Horse  posted on  2015-11-03   4:38:13 ET  Reply   Untrace   Trace   Private Reply  

Real estate lobby won't allow you to build up in Silicon Valley.

Don't know US geography details but I'd guess there are thousands of sites along smaller waterways where communities with industries could be located to overcome the land cost obstacle in major urban centers wherein a tiny plot costs more than the building.

Tatarewicz  posted on  2015-11-03   20:11:56 ET  Reply   Untrace   Trace   Private Reply  

We still don't have the natural resources to allow all those non-white Obama voting people into this country.

Horse  posted on  2015-11-03   22:50:02 ET  Reply   Untrace   Trace   Private Reply  

We still don't have the natural resources...

Which resources do you have in mind?

Tatarewicz  posted on  2015-11-05   20:57:25 ET  Reply   Untrace   Trace   Private Reply  

We have to import oil, minerals and the like. We have to pay for them by lowering wages. We did not have to pay for imported oil when we had 150 million people.

Horse  posted on  2015-11-05   21:43:29 ET  Reply   Untrace   Trace   Private Reply  

#12. To: Horse (#11)

We did not have to pay for imported oil when we had 150 million people.

Wouldn't have to import oil today if Uber got the go ahead for a ride-share program wherein every car was an Uber taxi, matching rider pickups electronically (after screening rider/drivers for acceptable social behavior by checking criminal records and citizen reports of who should not be in the program).

Mineral import can be reduced by diligent recycling. Also, import costs covered by export of finished product (as a result of America's top rate technology.

Tatarewicz  posted on  2015-11-06 20:12:09 ET  Reply   Untrace   Trace   Private Reply  

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