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Why Communist China Has So Many Billionaires – Bloomberg

Summary:
By one estimate, China mints a new billionaire every two days, far exceeding the rate of countries like the United States. But how did China remain a nominally Communist state while becoming a hotbed for billionaires-in-the-making? Bloomberg QuickTake explains how capitalist compromises and moves begun decades ago have made China the not-quite-Communist country it is today. Video by Henry Baker, Graphics by Christian Capestany, Sylvia Yang – Bloomberg [embedded content]

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By one estimate, China mints a new billionaire every two days, far exceeding the rate of countries like the United States. But how did China remain a nominally Communist state while becoming a hotbed for billionaires-in-the-making? Bloomberg QuickTake explains how capitalist compromises and moves begun decades ago have made China the not-quite-Communist country it is today.

Video by Henry Baker, Graphics by Christian Capestany, Sylvia Yang – Bloomberg

Gregor Samsa
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