Inequality Datapoint of the Day

From Shanghai-based data group The Hurun Rich List, via Marketwatch:

There are currently 106 mainland billionaires, up from 15 last year… The

report added that China’s 800 richest individuals have net wealth of $459.3

billion, equivalent to 16% of China’s gross domestic product last year.

Wealth-to-GDP is a silly ratio, but one which refuses to go away: how often

do we hear that "Bill Gates’s wealth is greater than the GDP of [insert

random country here]". A much more interesting ratio would be the net wealth

of those 800 individuals as a percentage of the net wealth of China’s population

as a whole. More interesting still would be to look at China’s Gini coefficient

over the past few years, but the last National

Human Development Report for China seems to have been published in 2005.

(HT: Kedrosky,

who describes the report as "highly dubious"; I’m inclined to agree.)

Update: Forbes lists 40

Chinese billionaires. (Via Rodrik)

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