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Friday, October 27

Smog season returns to China but by gum there's a new Chinese billionaire every 5 days

[sigh]


From RT, October 27:
‘Pollution season on’: Smog shrouds Beijing & suburbs, causes roads closures (PHOTOS, VIDEO)

From Business Insider, October 24:
China is churning out a new billionaire every 5 days

You have to read to the end of the report for the catch:
Still, billionaire wealth in Asia, Matthews noted, is very volatile because it is so closely linked to the public markets.

"So they can be a billionaire one day, but not the next," he said. "Only 40% of billionaires [in the US] have their wealth tied to public markets, compared to 70% in Asia."
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