From the Chinese Press
China Daily | Updated: 2012-07-18 08:05
Bubble behind asset growth
A report conducted by the Southwestern University of Finance and Economics in Chengdu, Sichuan province, on the financial situation of Chinese families in 2012, found that the total net assets of Chinese families is $69.1 trillion, $12 trillion more than their US counterparts. However, such figures just show how big the bubble is in Chinese families' wealth, says an article in Workers' Daily. Excerpts:
The Chinese annual average income is about $4,000. In the United States it is about $40,000.
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