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The rich have poor reputation [Copy link] 中文

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Post time 2007-9-12 17:15:42 |Display all floors
Wealthy Chinese do not have a good reputation, a survey by China Youth Daily and Sina.com has found.
http://www.chinadaily.com.cn/china/2007-09/12/content_6098768.htm
it's a common phenomenon around the world ? how do you think of the wealthy people ?

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Post time 2007-9-12 19:29:18 |Display all floors

Nouveau riche

Don't worry too much about that at this stage. Nouveau riche are generally badly behaved, hence the rather derogatory "new money" tag pinned on these people. It will likely improve with time, education and the development of a social conscience in another generation. It should be interesting to observe the development in social conscience and compare that with Hong Kong, but remember, we are all Chinese.

Mr Li Ka Shing started off as a poor man and a labourer, but he invested his hard earned money wisely and he donated to charities. He is hard working and an astute businessman. Richard is not. It's a pity that nothing from his father rubbed off on this person.

Mr Fok Ying Tung likewise was a hard worker in his days, and donated to charities. He never lost sight of his own heritage and background and kept in touch with the average man-on-the-street. See my thread:
http://bbs.chinadaily.com.cn/vie ... ighlight=%2Bcestmoi

I think it was David Rockefeller who was reputed to have said: "I have always regarded it as a religious duty to get all I could honorably and to give all I could..." (after all, you can't take it with you :) ) He became a rich man and a notable philanthropist. Andrew Carnegie is another notable philanthropist who donated heavily to public libraries. Of course we all know about Mr Gates' donations.
Let the dice fly high

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Post time 2007-9-12 23:20:35 |Display all floors
Because of one post, i can now, perhaps, look at seneca differently. And of course what cestmoi wrote makes good sense.

The ultrarich seem to totter between overweening pride which propels them to forget others, and deep insecurity which propels them to covet even more. If they are to change, they need to unshackle themselves from these two extremes, and see that the very factor of success hides the very seed of its own failure.

What is the point of spending a hundred thousand for a watch that you look at on one hand while the other holds the China Daily advertisement asking for donations to build some classrooms for rural schools? Those who became very rich from being very poor before should be the first to know what it is like for children to have to walk barefooted to school carrying their own rickety chairs from their shanty homes.  If one can help now, why wait until tomorrow?  Exactly how much can one eat or carry to the grave?

There is a levelling effect in each person's life, no matter prince or pauper. That should be telling of what life is all about. Beyond some for the next generations and adequate comfort to last one's lifetime, more should be less for oneself if less can become more for others.

A perfect post!

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Post time 2007-9-13 16:12:34 |Display all floors

Reply #4 markwu's post

The rich becomes so due to their "ability" to generate surpluses via productivity gains.
That productivity gain, results in (1) Jobs which pay standard quality of living in the district that they are operating, while (2) Generating a surplus for himselve even as he is providing (3) Products to consumer and traders to profit.

ie. The Rich are conduits for productivity gains, innovation and creativity.

Some of the Rich benefits by understanding the economic structure, cost and politics. They gain by actively finding an arbitrage. Such ability requires detail knowledge, observation, listening skills that only a "good education" or "guidance by good teachers" would provide.

Other Rich gains by "delaying consumption", using his hard earned saving to gain "multiple income" via the increasing large ways of "income generating" avenues, such as rental income, capital gains of property or financial assets, or just profit sharing in companies of joint stock, joint venture etc.

The profit gained by the rich has no "morality involved" most of the time. (except maybe some bandit business of stealing, cheating others!)

Generally speaking, when a person becomes "well off", he begins to "dressed better", "eat better" and normally will be more comfortable helping aquantances or blood relatives example helping others in his family or with familial ties get ahead!

This is called Charity!

cheerios!

Green DRagon
GAme Master

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Post time 2007-9-14 08:49:38 |Display all floors

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Excellent wisdom guys...... I learned another thing...

Attachment to wealth and money prevents it from coming to you........Loose the attachment and it comes easily.

Loosing the attachment is the hard part. It is also another concept to add to our list.

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Post time 2007-9-14 09:05:54 |Display all floors

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The hard work part is very true... "Easy come easy go" is also true. Most of the people who win the lottery are right back where they started in two years or less with more debt than ever.

Since I have lost the attachment every one of my paychecks for the past  5 months have gone to the bank and not spent.  It's piling up like crazy! I will find a use for it when I come to China. Half will be a venture investment.

Another rule: Never invest more than you can afford to loose.

The greater the risk the greater the pay off..... but if you don't want to risk it, then look for those things where there is little risk. Payback is slower but more assured.

After my last divorce, I was whining to a friend who is quite wealthy.... He said, "Don't worry about it, you can always get more money, you can always build another house or apartments" . At the time it was tough to understand what he was saying but he was right!  The less you worry about it, the more easily it comes. I ended up with more houses, apartments and money. With the current marriage and impending divorce, I liquidated everything and started over. The second time around is easier than before. I can not imagine how this next round will come out. (so far it looks unbelieveable). I just don't worry about it anymore.

I have learned some important things. Everytime I have to liquidate, a woman is involved. I will not find one who is greedy and will definitely not get married again. Second is that each time I have to start over, the rewards are greater than before.

So you loose a little then you gain a little. Learning yourself is the most critical issue to where to put it to keep it.     You have got to know yourself and learn from your mistakes and successes then apply them to your future.

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Post time 2007-9-14 10:35:27 |Display all floors
Originally posted by voice_cd at 2007-9-12 03:15
Wealthy Chinese do not have a good reputation, a survey by China Youth Daily and Sina.com has found.
http://www.chinadaily.com.cn/china/2007-09/12/content_6098768.htm
it's a common phe ...


Had to chuckle when I saw this thread - made me think of band Motorhead, and their song "Eat the Rich"

http://www.youtube.com/watch?v=h45WnW0ASFY
China's Eccentric 'Uncle Laowai' from Chicago, IL

http://blog.chinadaily.com.cn/home.php?mod=space&uid=135031&do=blog&view=me&from=space

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