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Economy
In reply to the discussion: Weekend Economists Batten Down the Hatches October 26-28, 2012 [View all]xchrom
(108,903 posts)42. China at a Crossroads in Shift from World's Factory to Industrial Power
http://www.spiegel.de/international/world/fast-industrializing-china-faces-tough-choices-a-863331.html
The elite Beijing Sports Car Club was founded in 2009 and meets once per week in an exclusive lounge near the city's football stadium. The club's 700 members also travel on luxury trips together to places like Las Vegas and London.
A visit with Mr. Huang, one of the richest and most controversial men in the People's Republic of China, is full of surprises. Take, for example, the four pairs of climbing boots lined up like exhibits behind the door to his office. "I was at the South Pole and North Pole, and twice on Mt. Everest with these," says Huang, pointing proudly to a series of photos that serve as proof of his adventures. There are Buddha statues and various animals in the adjacent rooms, including rhesus monkeys and pygmy rabbits in cages, as well as small sharks swimming in circles in a large aquarium leaning against a wall.
"I love nature," says Huang Nubo, 56, a businessman with an estimated net worth of at least $1 billion (772 million). The founder and chairman of the Beijing Zhongkun Investment Group, Huang discovered a market niche: He builds resorts with an emphasis on sustainable design. His company benefits from the new wanderlust and "green" consciousness of the affluent Chinese upper and middle classes.
He tells the short version of life story while a Siam cat purrs on his lap. He was orphaned at 13, and in 1960 his father committed suicide after a quarrel with a party secretary. His mother later died of grief. He attended Beijing University, joined the Communist Party to further his career and became an official in the party's propaganda division. Then he withdrew from politics and founded his company.
"As an entrepreneur, you have more freedom than you do in politics, and you can usually move around more," says Huang, whose party connections certainly didn't hurt his growing business. But, as he points out, "Chinese society has developed unevenly, which isn't good. Too many people are losing out." This is why Huang gives a substantial portion of his profits to the needy. With charitable donations of about $5 million a year, he is seen as one of the country's most generous philanthropists.
The elite Beijing Sports Car Club was founded in 2009 and meets once per week in an exclusive lounge near the city's football stadium. The club's 700 members also travel on luxury trips together to places like Las Vegas and London.
A visit with Mr. Huang, one of the richest and most controversial men in the People's Republic of China, is full of surprises. Take, for example, the four pairs of climbing boots lined up like exhibits behind the door to his office. "I was at the South Pole and North Pole, and twice on Mt. Everest with these," says Huang, pointing proudly to a series of photos that serve as proof of his adventures. There are Buddha statues and various animals in the adjacent rooms, including rhesus monkeys and pygmy rabbits in cages, as well as small sharks swimming in circles in a large aquarium leaning against a wall.
"I love nature," says Huang Nubo, 56, a businessman with an estimated net worth of at least $1 billion (772 million). The founder and chairman of the Beijing Zhongkun Investment Group, Huang discovered a market niche: He builds resorts with an emphasis on sustainable design. His company benefits from the new wanderlust and "green" consciousness of the affluent Chinese upper and middle classes.
He tells the short version of life story while a Siam cat purrs on his lap. He was orphaned at 13, and in 1960 his father committed suicide after a quarrel with a party secretary. His mother later died of grief. He attended Beijing University, joined the Communist Party to further his career and became an official in the party's propaganda division. Then he withdrew from politics and founded his company.
"As an entrepreneur, you have more freedom than you do in politics, and you can usually move around more," says Huang, whose party connections certainly didn't hurt his growing business. But, as he points out, "Chinese society has developed unevenly, which isn't good. Too many people are losing out." This is why Huang gives a substantial portion of his profits to the needy. With charitable donations of about $5 million a year, he is seen as one of the country's most generous philanthropists.
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