In this post, Larry talks about Chinese wealth and Chinese society. He says that many believe all of China is old and while that may be true in rural areas, China’s major cities have become more modern than American cities.
He mentions films like the most recent Karate Kid, which he feels is not a good representation of Beijing, China’s capital.
The average Chinese person in the big city makes about one thousand US dollars a month. The income disparities in China are similar to those in Latin America while the Chinese middle class is still growing.
Larry says the wealthiest people in China are all business owners. However, in the US, top management of large corporations are paid high salaries compared to management positions in China. In China, to have a chance at wealth, you must own a business.
He feels that lifestyles of the wealthy in America and China are about the same.
Larry says the cities are modern and have complex public-transport systems. I can attest to this. I’ve ridden the subways in Shanghai and Beijing and they are more efficient at moving more people than public transportation I’ve taken in the US.
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