Serious resentment brewing among Chinese: Survey

[GoFlyKiteNow]

Serious resentment brewing among Chinese as rich become richer: Survey
Feb 21, 2010, 07.10pm

BEIJING: The rich have got a lot richer in China during the financial crisis.

This has fueled strong resentment among ordinary Chinese, who feel official nepotism and corruption is making some people extremely rich.

These are the outcome of recent studies by five different organizations, two of which are connected to the government.

The resentment factor has been mapped by studies done by the People's Daily, the organ of the Communist Party of China and the State-run Zhejiang Academy of Social Sciences.

The People's Daily poll showed 91% of rich families have strong political connections and have benefited from it.

Only 16% of the respondents in the survey felt that "wisdom and hard work of family members" was responsible for the wealth of the rich families.

This is a damning verdict.

It shows the extent of bitterness among ordinary Chinese, who believe that official corruption and nepotism plays a key role in making some people exceptionally rich.

The poll outcome also suggests that the ordinary people do not think the government crackdown on corruption and nepotism has achieved much success.

The Forbes China Rich List, one of the public listing of the wealthy, has found that the threshold for the 400 richest people on the Chinese mainland (without including Hong Kong and Macau) rose sharply from 1.22 billion yuan in 2008 to 2.05 billion yuan in 2009.

This happened to be the period of financial crisis, which resulted in thousands of factories closing down and millions losing jobs in the country. This is why surveys show high level of bitterness among ordinary people, who feel many of the wealthy have used guanxi or official connection to enhance their wealth.

"I believe that the wealth gap is a much more serious problem nationwide," Qiu Liping, a professor of social stratification at Shanghai University, was quoted in the official media as saying. "People do not always hate the rich. People hate those who are immorally rich," he said.

The timing of the surveys by State-run agencies is significant. The government is prosecuting Huang Guangyu, who emerged as the richest Chinese in 2008, for insider trading and illegal business dealings. He developed an almost a clan following among a section of businessmen because of his rags to riches story.

The surveys seem to justify government action by bringing out the resentment among ordinary people against those who have become rich by dubious means.

The People's Daily poll showed 69% of the people think "badly" or "really badly" of the newly rich families in China. Only 3% of the respondents said their impressions of the group are "OK" or "very good".

"The public gives positive evaluation to the ability of the group in making fortunes, and has no bad impression of their firms or assets. What causes resentment are the paths they take to gain wealth and some bad behavior after getting rich," the Chinese language People's Forum magazine said in a report.
.

 

[Alamaking]

Chinese? including singapore chinese izzit? lol

 

[DASHUANGXI]

why hate us? without us, you sinkapor people will die slowly

 

[Alamaking]

why hate us? without us, you sinkapor people will die slowly

With you all hor, we die faster leh, knn... :oIo::oIo:

 

[ahleebabasingaporethief]

That is part of the CIA plot to break up China just like what happened to Russia.

It's not difficult.

China has 5000 years of history, the oldest most advanced civilization BUT see how the CHINESE behave?

In Singapore also no help one another BUT EXPLOIT OWN KIND once in the position of power.

But very easy to rectify in China. All they need to do is close their borders again for the next 30-40 years.......but with a difference from Mao's days; and they will be ok.

Serious resentment brewing among Chinese as rich become richer: Survey
Feb 21, 2010, 07.10pm

BEIJING: The rich have got a lot richer in China during the financial crisis.

This has fueled strong resentment among ordinary Chinese, who feel official nepotism and corruption is making some people extremely rich.

These are the outcome of recent studies by five different organizations, two of which are connected to the government.

The resentment factor has been mapped by studies done by the People's Daily, the organ of the Communist Party of China and the State-run Zhejiang Academy of Social Sciences.

The People's Daily poll showed 91% of rich families have strong political connections and have benefited from it.

Only 16% of the respondents in the survey felt that "wisdom and hard work of family members" was responsible for the wealth of the rich families.

This is a damning verdict.

It shows the extent of bitterness among ordinary Chinese, who believe that official corruption and nepotism plays a key role in making some people exceptionally rich.

The poll outcome also suggests that the ordinary people do not think the government crackdown on corruption and nepotism has achieved much success.

The Forbes China Rich List, one of the public listing of the wealthy, has found that the threshold for the 400 richest people on the Chinese mainland (without including Hong Kong and Macau) rose sharply from 1.22 billion yuan in 2008 to 2.05 billion yuan in 2009.

This happened to be the period of financial crisis, which resulted in thousands of factories closing down and millions losing jobs in the country. This is why surveys show high level of bitterness among ordinary people, who feel many of the wealthy have used guanxi or official connection to enhance their wealth.

"I believe that the wealth gap is a much more serious problem nationwide," Qiu Liping, a professor of social stratification at Shanghai University, was quoted in the official media as saying. "People do not always hate the rich. People hate those who are immorally rich," he said.

The timing of the surveys by State-run agencies is significant. The government is prosecuting Huang Guangyu, who emerged as the richest Chinese in 2008, for insider trading and illegal business dealings. He developed an almost a clan following among a section of businessmen because of his rags to riches story.

The surveys seem to justify government action by bringing out the resentment among ordinary people against those who have become rich by dubious means.

The People's Daily poll showed 69% of the people think "badly" or "really badly" of the newly rich families in China. Only 3% of the respondents said their impressions of the group are "OK" or "very good".

"The public gives positive evaluation to the ability of the group in making fortunes, and has no bad impression of their firms or assets. What causes resentment are the paths they take to gain wealth and some bad behavior after getting rich," the Chinese language People's Forum magazine said in a report.
.

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[longbow]

What you have here is the vaunted capitalist society. The very model that has driven US to become number 1 and what is driving the Chinese.

If you take a look at all the Chinese billionaires/millionaires you do not have legacy/dynastic wealth. After all just 30 years ago there was no capitalism. So what you see are people that were just like the common folk 10 to 20 years ago but they started small business and made it big. Most are rags to riches story. In a way this is an inspiring story as it mean many can make it. Unfortunately in a capitalist society the winner takes all which is why we need regulations and taxes to transfer the wealth. Chinese are at this stage and it is up to Beijing to curb the wealth of these new billionaires - problem is Beijing is even more capitalistic than US! And like anywhere in the world, from New York to Japan to Mumbai the wealth have influence and connection.

This is unlike in India where the Tata and Moodi, Ambani have controlled $$ for many gen.

Serious resentment brewing among Chinese as rich become richer: Survey
Feb 21, 2010, 07.10pm

BEIJING: The rich have got a lot richer in China during the financial crisis.

This has fueled strong resentment among ordinary Chinese, who feel official nepotism and corruption is making some people extremely rich.

These are the outcome of recent studies by five different organizations, two of which are connected to the government.

The resentment factor has been mapped by studies done by the People's Daily, the organ of the Communist Party of China and the State-run Zhejiang Academy of Social Sciences.

The People's Daily poll showed 91% of rich families have strong political connections and have benefited from it.

Only 16% of the respondents in the survey felt that "wisdom and hard work of family members" was responsible for the wealth of the rich families.

This is a damning verdict.

It shows the extent of bitterness among ordinary Chinese, who believe that official corruption and nepotism plays a key role in making some people exceptionally rich.

The poll outcome also suggests that the ordinary people do not think the government crackdown on corruption and nepotism has achieved much success.

The Forbes China Rich List, one of the public listing of the wealthy, has found that the threshold for the 400 richest people on the Chinese mainland (without including Hong Kong and Macau) rose sharply from 1.22 billion yuan in 2008 to 2.05 billion yuan in 2009.

This happened to be the period of financial crisis, which resulted in thousands of factories closing down and millions losing jobs in the country. This is why surveys show high level of bitterness among ordinary people, who feel many of the wealthy have used guanxi or official connection to enhance their wealth.

"I believe that the wealth gap is a much more serious problem nationwide," Qiu Liping, a professor of social stratification at Shanghai University, was quoted in the official media as saying. "People do not always hate the rich. People hate those who are immorally rich," he said.

The timing of the surveys by State-run agencies is significant. The government is prosecuting Huang Guangyu, who emerged as the richest Chinese in 2008, for insider trading and illegal business dealings. He developed an almost a clan following among a section of businessmen because of his rags to riches story.

The surveys seem to justify government action by bringing out the resentment among ordinary people against those who have become rich by dubious means.

The People's Daily poll showed 69% of the people think "badly" or "really badly" of the newly rich families in China. Only 3% of the respondents said their impressions of the group are "OK" or "very good".

"The public gives positive evaluation to the ability of the group in making fortunes, and has no bad impression of their firms or assets. What causes resentment are the paths they take to gain wealth and some bad behavior after getting rich," the Chinese language People's Forum magazine said in a report.
.

 

[longbow]

Here is one example - built company from scratch 15 years ago. Started with borrowed money in Shenzhen when he was 29. You see it is the opportunity that the env has given him to make so much money. In Singapore you would not have this fertile env.



From the world's biggest manufacturer of mobile phone batteries to a car company with global pretensions, BYD is a Chinese company that has roared onto the international stage energized by its workaholic founder Wang Chuanfu.


Building his own dreams: Wang Chuanfu has turned BYD into an international company in less than 15 years.

1 of 2 Wang's hands-on approach to running a business with 130,000 employees -- he still eats in the company canteen and lives in a BYD-owned housing complex -- isn't too far removed from how he built the company from scratch in 1995 when he was 29 years old.

Wang trained as an engineer and studied the patents of other companies' mobile phone batteries, even taking them apart to see how they were made. He raised some start-up capital from a relative to create his own mobile phone battery-making business in Shenzhen, the special economic zone just north of Hong Kong.

 

[ahleebabasingaporethief]

INDIA is the WORST OF THE LOT.

They rape their own people in more ways than one and are the biggest RACISTs on planet earth with their caste system.

Always look DOWN upon a rich FT Indian FT with no respect. That is because they have no respect for their fellow human kind.

They ONLY like to LAULUN all the time. Never ever respect someone rich that has EXPLOITED their own kind. Always look DOWN on them; irregardless of the money they have and you will find peace and happiness.

The WORLD will only see RICH Indians from India in a different light ONLY IF THEY DO AWAY WITH THE CASTE SYSTEM and help their own kind that they call 'UNTOUCHABLES". How fucking degrading. CCB! How to respect these rcih Indian FTs? Phoooey!

What you have here is the vaunted capitalist society. The very model that has driven US to become number 1 and what is driving the Chinese.

If you take a look at all the Chinese billionaires/millionaires you do not have legacy/dynastic wealth. After all just 30 years ago there was no capitalism. So what you see are people that were just like the common folk 10 to 20 years ago but they started small business and made it big. Most are rags to riches story. In a way this is an inspiring story as it mean many can make it. Unfortunately in a capitalist society the winner takes all which is why we need regulations and taxes to transfer the wealth. Chinese are at this stage and it is up to Beijing to curb the wealth of these new billionaires - problem is Beijing is even more capitalistic than US! And like anywhere in the world, from New York to Japan to Mumbai the wealth have influence and connection.

This is unlike in India where the Tata and Moodi, Ambani have controlled $$ for many gen.

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[KennyMGM]

survey done by People's daily and a state run science academy.
not by oustsiders. i doubt there is any so caled conspiracy by
other nations.

 

[longbow]

Here is another story Geely boss. Son of peasant farmers. His company is buying Volvo (compare this with Tata's jaguar purchase - remember Tata is old money he is as new money as can be). He is only 46! This in a way is the American dream. Be enterprising, take risk and of course healthy dose of luck.


It's an amazing rags to riches story.


Mr. Li was born on a farm in rural China in 1963 and grew up amid the upheaval of the Cultural Revolution. He alternated years in school with work in the fields, depending on the state of his family's precarious finances. When he finished middle school at age 17 in 1980, he used his graduation gift of 100 yuan, worth about $12 today, to buy a camera.

Launching a Career

The camera launched his career as an entrepreneur. He used it to take pictures of villagers for a fee. In time, he opened a studio and raised enough money to go into a totally new line of business: stripping precious metals out of discarded appliances and machinery. That led to an enterprise making refrigerator parts.

Then, in June 1989, the Chinese military cracked down on pro-democracy protestors in Tiananmen Square. "We felt very insecure," Mr. Li says now. It wasn't clear whether the government's market-friendly policies were going to be rolled back, he says. "For the sake of safety, I gave up everything."

He turned over his factory and his savings to the local government. Mr. Li finally went back into business a few years later. He started a company making building supplies. In the early 1990s, he decided his real ambition was to build cars. "Chinese people were starting to have money. Families would be able to afford cars," he says.

But the Chinese government -- which at the time barred private companies from the auto business -- wouldn't give him a license. So Mr. Li made motorcycles. But he also built a pilot automobile plant, and he and his engineers began experimenting with car production.

Mr. Li and his cohorts bought a series of cars then available in China and started dissecting them to learn how they were built. Then they started trying to assemble their own. They finished the first prototypes for their own cars in 1998, based -- loosely, Geely says -- on competitors' models. Geely finally got government approval to sell cars in 2001.

 

[ahleebabasingaporethief]

Here is one example - built company from scratch 15 years ago. Started with borrowed money in Shenzhen when he was 29. You see it is the opportunity that the env has given him to make so much money. In Singapore you would not have this fertile env.



From the world's biggest manufacturer of mobile phone batteries to a car company with global pretensions, BYD is a Chinese company that has roared onto the international stage energized by its workaholic founder Wang Chuanfu.


Building his own dreams: Wang Chuanfu has turned BYD into an international company in less than 15 years.

1 of 2 Wang's hands-on approach to running a business with 130,000 employees -- he still eats in the company canteen and lives in a BYD-owned housing complex -- isn't too far removed from how he built the company from scratch in 1995 when he was 29 years old.

Wang trained as an engineer and studied the patents of other companies' mobile phone batteries, even taking them apart to see how they were made. He raised some start-up capital from a relative to create his own mobile phone battery-making business in Shenzhen, the special economic zone just north of Hong Kong.

CHEY! That is nothing.

In Singapore we have ONE company started by a GRASSLOOTER who in a short space of 5 MONTHS; already cornered the BLANKET market amongst other business.

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[GoFlyKiteNow]

Here is another story Geely boss. Son of peasant farmers. His company is buying Volvo (compare this with Tata's jaguar purchase - remember Tata is old money he is as new money as can be). He is only 46! This in a way is the American dream. Be enterprising, take risk and of course healthy dose of luck.


It's an amazing rags to riches story.

loosely, Geely says -- on competitors' models. Geely finally got government approval to sell cars in 2001.

Besides the external challenges, the Communist Party has its biggest enemy within itself: Rampant corruption. The party membership symbolizes status, power, business opportunity, privileges and riches.
As of date the party has 65 million members. Almost 90% of China's rich are well connected politically to the party. Business empires rise and thrive on party patronage or affiliations.

Hu Angang, a Chinese economist, estimated in 2000 that every year the monetary loss resulting from corruption amounted to 13-16% of the GDP. From January to November 2005, prosecutors nationwide investigated 27,327 corruption cases involving 32,162 officials or public employees.

Chinese Communist Party and the government have this paradox challenge: "To fight corruption too little would be sure to destroy the country; to fight it too much would be sure to destroy the Party."

 

[zuoom]

maybe this is one of the reason why....

A Wedding in ShanXi.
http://www.mycarforum.com/index.php?showtopic=2648856&hl=*

 

[ahleebabasingaporethief]

Besides the external challenges, the Communist Party has its biggest enemy within itself: Rampant corruption. The party membership symbolizes status, power, business opportunity, privileges and riches.
As of date the party has 65 million members. Almost 90% of China's rich are well connected politically to the party. Business empires rise and thrive on party patronage or affiliations.

Hu Angang, a Chinese economist, estimated in 2000 that every year the monetary loss resulting from corruption amounted to 13-16% of the GDP. From January to November 2005, prosecutors nationwide investigated 27,327 corruption cases involving 32,162 officials or public employees.

Chinese Communist Party and the government have this paradox challenge: "To fight corruption too little would be sure to destroy the country; to fight it too much would be sure to destroy the Party."

Think they are trying to copy the Singapore model minus the corruption part as Singapore has no corruption.

But cannot leh. Even if the Singapore styled governance is used in a slightly bigger country / region or in a place where people have MORE BALLS; example let's say HK or Malaysia, there will be riots every day.

So China had better not copy Singapore style of governance.
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[GoFlyKiteNow]

In China, legal experts say, bribery laws are selectively enforced, and party members in good standing are rarely investigated.

As a result, the practice of bribing government officials — by other government officials and, more commonly, by private businessmen — is so widespread that luxury goods producers have come to count on it as an increasingly important revenue source.

When lower level government officials are the gift-givers, the purchases are usually made with state money, or are paid for by private entrepreneurs. The gifts are essentially bribes or kickbacks.

There are also middlemen who help buy the goods, whether the buyer is a government official buying for one of his superiors or a private businessmen seeking to influence an official.

Sales clerks at luxury stores quickly learn which products are popular with clients seeking to curry favor. “Jewelry is a favorite for people sending gifts to government officials,” said a clerk at the Jimmy Choo luxury shop in Beijing, who declined to be identified to protect his job.

Michael Ouyang, chief executive of the World Luxury Association China Office, said government officials “would rather wear luxury goods when playing golf.”

“They’ll be cautious at work,” he said.

The problem is that officials in China appear to be addicted to European luxury brands.

In January, a land confiscation official in the southwestern city of Chongqing was sentenced to 13 years in prison for accepting kickbacks. The government confiscated 200 pairs of luxury shoes, 100 luxury suits and a luxury car.

At his sentencing in January, the official, Ding Meng, expressed no remorse about his expensive tastes.

He even scolded the prosecutor for her poor taste in fashion. “You’re a woman and you don’t even wear better luxury shoes than me,” he sniped. “Maybe you can spend $25 and buy a tube of shoe cream.”

Chen Yang contributed research.

 

[Watchman]

Interesting neverending loop !

 

[Sperminator]

Interesting neverending loop !

Rags to riches are possible in China.

Still is today, and in the future...