Richest congress in the world. What kind of communism is this?
http://business.blogs.cnn.com/2012/03/12/should-chinas-capital-be-renamed-bling-jing/
Should Chinaâs capital be renamed 'Bling-jing'?
March 12th, 2012
03:04 PM GMT
If you look at Chinaâs annual National Peopleâs Congress, now in session, you might think this country is one of the richest in the world.
The NPC's 75 richest legislators - from a total of 3,000 - had a net worth of more than $90 billion in 2011. To put that in perspective, thatâs more than half of Greeceâs latest bailout of some $170 billion.
Zong Qinghou is the NPCâs richest member and Chinaâs second-richest man, with a net worth of nearly $10.8 billion in cash and assets. If youâve been to China, youâve likely eaten or drunk something his company, Wahaha Group, manufactures.
Along with food and drink, the five richest NPC legislators have shown that Chinaâs automobile and real estate industries are the sectors in which to make billions.
For more perspective on their wealth, compare NPCâs six dozen richest members to U.S. politicians. This group earned more than the net worth of the six hundred top politicians and lawmakers of the United States.
That includes President Barack Obama, his Cabinet, the 535 members of Congress, along with nine members of the Supreme Court. Their average declared net worth in 2010 was just $4.8 billion - a pittance compared to the NPCâs $90 billion.
Even the richest person in the U.S. Congress looks a modest earner compared with the NPC's wealth. Representative Darrell Issa of California has a maximum net worth estimated at $700 million, according to the Center for Responsive Politics. If he were in Chinaâs NPC, his ranking would fall forty notches.
<img src="http://i2.cdn.turner.com/cnn/dam/assets/120312014157-zong-qinghou-horizontal-gallery.jpg">
Bigg Boss
http://business.blogs.cnn.com/2012/03/12/should-chinas-capital-be-renamed-bling-jing/
Should Chinaâs capital be renamed 'Bling-jing'?
March 12th, 2012
03:04 PM GMT
If you look at Chinaâs annual National Peopleâs Congress, now in session, you might think this country is one of the richest in the world.
The NPC's 75 richest legislators - from a total of 3,000 - had a net worth of more than $90 billion in 2011. To put that in perspective, thatâs more than half of Greeceâs latest bailout of some $170 billion.
Zong Qinghou is the NPCâs richest member and Chinaâs second-richest man, with a net worth of nearly $10.8 billion in cash and assets. If youâve been to China, youâve likely eaten or drunk something his company, Wahaha Group, manufactures.
Along with food and drink, the five richest NPC legislators have shown that Chinaâs automobile and real estate industries are the sectors in which to make billions.
For more perspective on their wealth, compare NPCâs six dozen richest members to U.S. politicians. This group earned more than the net worth of the six hundred top politicians and lawmakers of the United States.
That includes President Barack Obama, his Cabinet, the 535 members of Congress, along with nine members of the Supreme Court. Their average declared net worth in 2010 was just $4.8 billion - a pittance compared to the NPCâs $90 billion.
Even the richest person in the U.S. Congress looks a modest earner compared with the NPC's wealth. Representative Darrell Issa of California has a maximum net worth estimated at $700 million, according to the Center for Responsive Politics. If he were in Chinaâs NPC, his ranking would fall forty notches.
<img src="http://i2.cdn.turner.com/cnn/dam/assets/120312014157-zong-qinghou-horizontal-gallery.jpg">
Bigg Boss
