Billionaires are notoriously difficult to track. It’s no surprise – the easier they and their assets are to find, the easier they are to tax. But by all accounts, the number of uber-wealthy people in China is in decline. Of the world’s estimated 2,640 billionaires, at least 562 are thought to be in China, according to Forbes, down from 607 last year. With crackdowns on financiers and a roiling political climate, many of China’s rich people are looking to move their money, and themselves, out of the country. China’s elites…
Tag: Inequality
The Guardian view on India at a crossroads: development, not dictatorship | Editorial
Becoming the world’s most populous nation allows India to burnish its credentials as a global economic and political heavyweight. With a population that is much younger than those of China, the US and the EU, there will be renewed interest in India’s potential to be a beacon of liberal values. The west is eager to draw a democratic giant into its orbit. China and India will together account for about half of all global growth this year. But India risks emulating its bigger northern neighbour’s economic ascent under tight political…
‘They want to remove us and take the rock’, say Zimbabweans living near Chinese-owned mines
A convoy of trucks laden with huge black granite rocks trundles along the dusty pathway as a group of villagers look on grimly. Every day more than 60 trucks take granite for export along this rugged road through Nyamakope village in the district of Mutoko, 90 miles east of Zimbabwe’s capital, Harare. The air reverberates with blasts and heavy machinery noises as the mountain above the village is slowly reduced, slab by slab. Quarrying has been happening here since the 1980s. Mutoko stone is sought after for its lustre. It…