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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This means that they are mainly reliant on their families, which are filthy rich. Through this character, a serious economic challenge comes up, and the economic future of the country stands to be threatened if these people are consumers and are not working to expand their parents businesses. Although, some people saying “SRG” are only a very small group of people, they cannot make any huge influence. Considering the behavior they have now and the wealth they will control in the future, I am still thinking they will make a huge negative impact to Chinese society and economy in the near future.
The building of an economy required the input of all the citizens in a country. Since 1980s there were a group of hardworking people, they used their intelligence and knowledge to help China finished industrialization. Their hardworking not only made them become the first group of billionaires in China but also helped the country grown to be one of the giant economies in the world. However, most of their children are not diligent as their parents, they have decided to sit back and eat what their parents made. Compare to business, they are seem to be more interested in the sports cars and private jets. This is a very dangerous scenario given that there is no income that is generated from this generation. I interviewed a SRG recently, although he indicated that he wants to have his own career and pay for his own life in the future. He still admitted that it is not easy to do and most of the SRG now are not thinking like him. According to Liu (2012) Songyang Fu’s father was the owner of a still factory near Beijing. A car accident took away his father’s life in 2006 and Fu was only nineteen. Fu inherited his father’s legacy and became the thirtieth richest person in China on the Forbes’s rank. However Fu was not interested in his father’s steel business at all. He decided to use his father’s money to realize his own
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This changing face of China has its effects on the economic and political future of China.This paper aims at exploring and critically analyzing the three systematic challenges the current leadership is facing namely the challenge of fragile political institutions and structures,growing strength of societal changes
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Thrift spending and very lavish lifestyles characterize these children, otherwise called the second rich generation. This name emanates from their fathers who were the first generation of rich people in the country. One major character that outstands in this
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