[Dean's World] Dave Price: The American Dream, In China

[notify at powerblogs.com]

Posted by Dave Price:
The American Dream, In China
http://www.deanesmay.com/posts/1191880585.shtml


   Heh, [1]so much for Communism.

     BEIJING (Reuters) - The twenty-six year-old daughter of a
     rags-to-riches property developer is China's wealthiest person,
     with a $16 billion fortune, Forbes magazine said on Monday.
     ...
     Her low-profile father, Yeung Kwok Keung -- who worked as a farmer
     and on construction sites before making his fortune, according to
     Chinese media -- had transferred his stake in Country Garden
     Holdings Co. to his daughter in 2005.
     ...
     She is one of the few on the list to have inherited her wealth, in
     a country where booming economic growth has created fortunes
     virtually overnight.

   China still has a long way to go, but liberalized property rights
   generally lead to liberalized political rights voer time. Wtihin our
   lifetimes, the Chinese Communist Party will probably evolve into
   something like the pro-socialist parties in America and Europe.

References

   1. http://www.reuters.com/article/worldNews/idUSPEK24602820071008?feedType=RSS&feedName=worldNews&rpc=22&sp=true