You are viewing a single comment's thread from:
RE: 10 THINGS CRAZY RICH ASIANS DO
This all sounds like some far-fetched fantasy world to me. Did you say this is your life, or did you say this is what you saw of that lifestyle while in Beijing? While I think many people aspire to that kind of lifestyle, I'm not so sure I would like it. I mean, it's great to not have to pay attention to the world around you, but I wonder how satisfying it really is. I like knowing that I've worked for the things I have....but perhaps I'd also like knowing that someone worked hard enough for me so that I don't have to work for anything.
Hi there, thanks for reading my post.
This is based on what i've seen in Beijing， its different from what the life i have back in Malaysia.
In Beijing, although not everyone has the same lifestyle here, but you can certainly see them on the streets especially near the Central Business District in Beijing. Houses in Beijing cost around $7,000 or more per square meter, so buying mansions abroad is no problem for the wealthy class of Chinese here.
Child policy also plays a role . China's one child policy was implied for 35 years, so the wealth is carry from one generation to another. In China, the parents will take care of the child 's affairs until they get married and start a family. It 's like a tradition or a duty of a parents, meaning that a child need not be concern about not getting his first house or his first car because his parents ( usually the grandparents chip in too) to provide him so that he can get married.
This is what happens, when almost everyone in China can have only one child in the family for 3 decades.
Another fact, since land in Beijing belongs to government (leasehold), if they tear down your apartment or house for development, you will be compensated with cash or 2 more houses (some times more). This is why, Beijingers can become rich overnight. Beijingers don't even need to work anymore, their rent is good enough to cover their living expense.
It's pretty incredible how much of an effect one policy can have in such a short period of time. The one child policy can seem inhumane to many, and it certainly caused many abuses, but I kind of like the idea in theory. It seems to have been effective in Beijing anyway, if it is creating such wealth and financial stability.