New York eclipsed as city with most extremely wealthy people
“Hong Kong is now home to more extremely rich people than any other city in the world, surpassing New York City as the rapidly growing Chinese economy mints a new class of financial elites in the east, according to a new report.”
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NYT’s Tom Friedman notes:
“Rich Asia has gotten really rich — not because it doesn’t have political, tribal, ethnic and religious differences like other regions, but because in more places on more days it learned to set those differences aside and focus on building the real foundations of sustainable wealth: education, trade, infrastructure, human capital and, in the most successful places, the rule of law. Most of Asia became prosperous not by discovering natural resources but by tapping its human resources — men and women — and giving them the tools to realize their potential.”