December 30, 2005

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The Men That Build China

Another fascinating article from David Barboza of the New York Times (free subscription site). It is about a man that could soon become the country's richest - he's in real estate, runs the Shimao Group, and his name is Xu Rongmao. He has US$9 billion in projects, is due to complete 145 million suare feet in real estate by 2010 and - he used to be a factory textiles worker.

The article paints a picture of the heady wealth that some men have achieved from lowly positions - factory worker, truck driver. It also demonstrates how little these men want to share how they achieved their wealth, for fear of government investigations or reprisal. Contemporaries though, pay Mr. Xu great homage for his vision and foresight.

Imagine how different Australia or America would be if all of its tycoons were rags-to-riches stories - pondering the meaning of it on society is a fascinating exercise.

posted by HK Dave on 12.30.05 at 09:05 AM in the China economy category.


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