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The Second Rich Generation in China Argumentative - Essay Example

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The past thirty years has witnessed a great rise in the development of industries, an aspect that has promoted a rise of rich individuals in the country. The children of these rich entrepreneurs are mainly in…
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The Second Rich Generation in China Argumentative Essay
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"The Second Rich Generation in China Argumentative"

Download file to see previous pages This means that they are mainly reliant on their families, which are filthy rich. Through this character, a serious economic challenge comes up, the economic future of the country stands to be threatened if these people are consumers and are not working to expand their parents businesses. However, through an interview with one of them I realized that though they spend, they have a view that one day they will engage in income generation. The second rich generation in China poses a possible collapse of the Chinese economy in the future.
The building of an economy requires the input of all the stakeholders, including all the citizens in a country. China has grown to be one of the giant economies in the world courtesy of its industrialization that took place in the 1980s. Economic reforms and policies made it possible for Chinese citizens both in the private and public sector to expand their businesses (Zhou, 2011). These people have facilitated to a great deal the realization of a strong economy. It is because they were hardworking and embraced a spirit of work that they were able to achieve the current economic state in china. On the other hand, their children have decided to sit back and eat what their parents made. This is a very dangerous scenario given that there is no income that is generated from what they do. While every citizen has an obligation of contributing to nation building through engaging in an economic activity, this group does not care.
Economic stability can be fostered through consumption of local goods in order to promote the local industry. The second rich generation does not have much treasure of the local commodities and services. For example, most of them spend their time in the United States driving flashy cars and consuming highly expensive products. This means that there is a flow of resources from China to United States just to take care of unproductive individuals living expensive ...Download file to see next pagesRead More
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