995 Millionaires & 95 Billionaires and 1mill created daily in China
[
New Economies
Or is the concern more about say China/South Korea/Russia/India, that aren't the closest in terms of culture and traditional alliances (even though they were allies in WW2)? Would you feel more comfortable with Japanese ownership (even though they were a WW2 axis power)? These nations obviously have their fair share of mines and power corporations.
Nothing wrong with foreign investors, well at least if you hold property. China's impact will be like no other, not even like Japan's.
Want some China's statistics: then read this eye opening article in AFR, "Investment wave set to break on our shores"
PUBLISHED: 06 Aug 2011 00:40:16"
Some information presented:
- Total household disposable income is 65% higher than reported by official statistics (about $U3.4 trillion)
- About 80% of grey income belongs to 20% wealthiest households (saving around $U1.7 trillion a year) That amount ($1.58 trillion) is about 50% larger than Australia's entire economy and roughly 75% more than the market capitalisation of the ASX 200.
The internationalisation of the yuan, once it will become fully convertible currency, then investment will flow in and out. Even 10% of $1.58 trillion is significant for Australia. It will chase not just sharemarket but hard assests such as property, agricultural land and infrastructure.
Other stats:
- 995Millionaires and 95Bilionaires and creating a millionaire a day (compare -that to AUS about 115Millionaires and 9Billionaires and see the difference)
Once all China's people are permited to invest overseas.....all that suggest to me that next property boom is coming and guess from where? Also, I see long term uranium investment unforseeable, to sustain China's growth, what do you think?
Globalisation is here to stay so interesting times are coming....Times like no other in the history!