Wealth no.1

‘IN Yiwu, a city of 680,000 in Zhejiang province, where the average income in 2005 was 19010 RMB (£1270), there also 82,118 cars (80% are privately owned), more than one car per 10 people. Now, these are not normal cars. Zhejiang is supposedly has one of the hottest provincial economies in China, but the wealth gap here is just unbelievable. Article can be found here (if you can’t read Chinese you can look at all the pictures of shiney cars).

bicycle or car
According the city transportation bureau’s statistics there are: (in 2005!)

2 Maybachs, 56 Ferraris, 2 Spyker V8’s, 5 Lamborghini’s, 8 Lotus’s, 2814 BMWs, 1302 Benzes, 3698 Audis, 163 Porches, 36 Hummers, 8 Rolls Royces, 32 Bentleys, 184 Caddilacs.

Party cadres busy promoting “social harmony” at their annual meeting. What better way than to drive up in a Ferrari!

wealth gap

Blog source.

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This entry was posted in China, Development, Economics, Politics, Protest, Transport, Urban. Bookmark the permalink.

3 Responses to Wealth no.1

  1. 白石 says:

    is there any link to the daily mirror article online?

  2. matt says:

    Not that I can find. Are you blogging from inside or outside China?

  3. Unser says:

    Believe you have to consider all aspects in the current economic climate – personally do no think we have seen the full extent of the recesssion, so would be cautious in considering.

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