China and Hong Kong together have a total of 41 billionaires, according to the Forbes list.
The New York Times says that there is a popular common saying in China ‘the nail that sticks up gets hammered’. This saying is also popular in Japan and other Asian countries. ‘No one wants to be that nail and talk about their business’.
China Daily points out that most of billionaires in China involve in real estates. Perhaps there is good reason for not publicizing assets since the Chinese real estate industry has been dogged by scandal of illegal land grabs, corruption, government bribery, the New York Times reports. This also means the Chinese rich hardly feel comfortable when being spotted by the media as they could end up paying more tax or enjoy some extra-needed attention.
More billionaires – brighter prospects?
The February edition of Fortune magazines showed that about half of the people starving in the world are living in India, more than 5.70 million population is infected with AIDS, only 61 per cent of the adults are educated, which is no better than Rwanda.