Bei-Jing or Bling-Jing ?

Discussion in 'Economics' started by Grandluxe, Mar 14, 2012.

  1. Richest congress in the world. What kind of communism is this?

    Should China’s capital be renamed 'Bling-jing'?
    March 12th, 2012
    03:04 PM GMT

    If you look at China’s annual National People’s Congress, now in session, you might think this country is one of the richest in the world.

    The NPC's 75 richest legislators - from a total of 3,000 - had a net worth of more than $90 billion in 2011. To put that in perspective, that’s more than half of Greece’s latest bailout of some $170 billion.

    Zong Qinghou is the NPC’s richest member and China’s second-richest man, with a net worth of nearly $10.8 billion in cash and assets. If you’ve been to China, you’ve likely eaten or drunk something his company, Wahaha Group, manufactures.

    Along with food and drink, the five richest NPC legislators have shown that China’s automobile and real estate industries are the sectors in which to make billions.

    For more perspective on their wealth, compare NPC’s six dozen richest members to U.S. politicians. This group earned more than the net worth of the six hundred top politicians and lawmakers of the United States.

    That includes President Barack Obama, his Cabinet, the 535 members of Congress, along with nine members of the Supreme Court. Their average declared net worth in 2010 was just $4.8 billion - a pittance compared to the NPC’s $90 billion.

    Even the richest person in the U.S. Congress looks a modest earner compared with the NPC's wealth. Representative Darrell Issa of California has a maximum net worth estimated at $700 million, according to the Center for Responsive Politics. If he were in China’s NPC, his ranking would fall forty notches.

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    Bigg Boss
  2. gwb-trading


    A real example of crony capitalism.
  3. I bet that's not completely true. I would wager the real number is much much higher. There is a lot of black money (bribes, skimming, etc that is done in briefcases of cash).

    If you took the top 75 legislaters in India, I would wager their combined net worth would be well over 90 Billion and it would all be from bribes and skimming from government coffers. I bet the same is true in Russia as well.
  4. AK100


    Communism is a lousy deal for the majority unless you're in control, then you live like a full on capitalist pig. Still, no pity needed for those in charge because as the old saying goes -

    The hottest fires in hell await all hypocrites :)
  5. Coming soon to America.. if not already here. (We don't call it "Communism".. yet, little different)