The number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉

☆ Yσɠƚԋσʂ ☆@lemmygrad.ml · 7 days ago

The number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉

Stella the dummy @lemmygrad.ml · 7 days ago

ghf@lemmygrad.ml · 7 days ago

The Economist is preparing an opinion piece about how this is bad as we speak.

Sodium_nitride@lemmygrad.ml · 7 days ago

Looking at this graph, this may just be a case of the spike during COVID subsiding.

☆ Yσɠƚԋσʂ ☆@lemmygrad.ml · 7 days ago

It looks like the role of private sector is also shrinking in the economy https://www.piie.com/research/piie-charts/2024/chinas-private-sector-has-lost-ground-state-sector-has-gained-share-among

commiespammer@lemmygrad.ml · 7 days ago

Sometimes I see statements on the internet that in China “2% of all the people own 98% of the wealth” (uncited stat of course), I wonder what they’d think of this.

The number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉

The number of billionaires in China fell by 36%. In the past year alone, and the collective wealth of the country’s richest people dropped 10%. 🎉

China loses third of its billionaires as economy falters