5 ms·

The newly wealthy are pretty fascinating. The closest i can think of in the US that would relate to them are professional athletes. http://www.latimes.com/ente

• mc32 12y ago
  Perhaps, but the Chinese attitude towards money tends to be different [and deeply ingrained over centuries], I think. Broadly speaking, they tend to invest and save --yes, they might invest and save in lousy deals, but the intent is to make money work rather than outright squander it as some movie or athletic stars in the US might. But, who knows, maybe the mindset will breakdown and they will squander it --ie lose it all in places like Macau. Now, for sure, some will go Moscow-nuveau rich style and and waste a lot in gaudy and flashy items but I just think a lower percentage will end up destitute (as say, some lottery winners in NAm might)
  • rasz_pl 12y ago
    seems they are mostly investing in ghost cities property, that will work really well
    • mc32 12y ago
      Right, but what else can they reasonably 'invest' in? Do they have other options? I suppose they can 'sit' on their money. They need to park their money somewhere. People who make money typically didn't make it by idling whatever they started with.
    • abandonliberty 12y ago
      They don't trust their currency, so aim to convert it into anything else they can.