Hong Kong News

A whole world on a single island
Thursday, Sep 24, 2020

China is producing billionaires faster than any other nation

Correction: 27% of Chinese citizens live under the poverty line of $5.50 per day, according to the World Bank, not 40% as originally stated in the video. The earlier number reflects an older figure. NewsHour regrets the error.
Communist China's planned economy once prevented its citizens from becoming wealthy. But China now produces billionaires faster than any country in the world, even as President Xi Jinping has cracked down on ostentatious displays of wealth. Special correspondent Katrina Yu reports on the fourth in a 10-part series, "China: Power and Prosperity," with support from the Pulitzer Center.
Newsletter

Quote of the Day

Potentially, a government is the most dangerous threat to man's rights: it holds a legal monopoly on the use of physical force against legally disarmed victims.

Ayn Rand
Related Articles

Hong Kong News
×