Segments in this Video

Gilded Age (05:57)

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A Chinese billionaire is created every week; until recently, most citizens were poor. Shaun Rein asserts technology markets change how wealth is created, but government ties impact who becomes rich. He compares the era before Xi Jinping's anti-corruption campaign to the U.S. robber baron era.

Wealthy in China (06:40)

There are an estimated 1,000 billionaires in China; most prefer to remain anonymous. Rein and Michael Forsythe argue the legitimacy of Jinping's anti-corruption campaign. Some invest overseas to avoid scrutiny and spending habits have changed.

Sustaining Economy (04:57)

New billionaires invest money in companies they founded; multi-generational wealth is uncommon. Rein expresses concerns for middle class youth and increasing wage gaps; Alfred Shang believes the government must restructure the economy and promote local consumption. Panelists discuss philanthropic efforts, tax codes, and scandals.

Influence (03:54)

A disproportionate number of ultra-rich Chinese serve on the National People's Congress. Forsythe predicts they will use their wealth to preserve their worth; Rein believes they will address issues such as climate change and education reform.

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Description

China has a new billionaire almost every week, and the new ultra rich are getting richer. Where does their wealth come from? How do they spend it? And what about the question of corruption? Kristie Lu Stout finds out the answers with her guests: Dr. Alfred Shang, Co-author of China Private Wealth Report, Bain & Company; Shaun Rein, Founder and Managing Director of China Market Research Group; and Michael Forsythe, Correspondent of the New York Times.

Length: 23 minutes

Item#: BVL187367

ISBN: 978-1-64623-266-6

Copyright date: ©2015

Closed Captioned

Performance Rights

Prices include public performance rights.

Not available to Home Video and Publisher customers.


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