New York Times (August 18)
“For decades, buying property was considered a safe investment in China. Now, instead of building a foundation of wealth for the country’s middle class, real estate has become a source of discontent and anger.”
Tags: Anger, Buying, China, Discontent, Foundation, Investment, Middle class, Property, Real estate, Safe, Wealth
Reuters (June 13)
Despite tensions with the North, things are “upbeat” in Seoul. “Compared to pre-pandemic times, the capital city feels richer and more vibrant. A recent boom in local stocks, cryptocurrencies and real estate have spurred the city’s elite, unable to travel, to flex their wealth at home…. Luxury sales topped $14 billion in 2021, making South Korea one of the few markets worldwide to surpass 2019 levels.”
Tags: Boom, Cryptocurrencies, Elite, Luxury sales, Markets, North Korea, Pre-pandemic, Real estate, Richer, Seoul, Stocks, Tensions, Travel, Upbeat, Vibrant, Wealth
Bloomberg (May 24)
“For decades, the surest way for ordinary Chinese families to grow their wealth and guarantee future financial stability was to put most of their money into real estate, and the rest into the stock market. Now, even those with money to spare are clutching onto their cash, not willing to take a chance in the Covid-battered Chinese economy.”
Tags: Battered, Cash, Chance, China, Clutching, Covid, Families, Financial stability, Future, Guarantee, Money, Ordinary, Real estate, Spare, Stock market, Wealth
Investment Week (December 21)
“The asset and wealth management industry is set to face a busy year of regulation, with the impact of recently passed legislation, including sustainability disclosure requirements and new listings rules, combining with that yet to come, such as long term asset funds. Past decisions will also bring change, as LIBOR also comes to an end this year, with very slim exception, while the spectre of Brexit is far from banished.”
Tags: Asset management, Brexit, Disclosure requirements, Funds, Impact, Legislation, LIBOR, Listings rules, Regulation, Sustainability, Wealth
Chicago Tribune (March 6)
“We walk the Earth’s crust, we erect vast cities, we boast of our achievements. We see ourselves as the mistresses and masters of our fate.” With the coronavirus, however, “nature once again reminds us who’s boss.” The “little living form that now roils humanity is a virus” and it does not discriminate “in selecting its victims; great wealth has its privileges, but immunity from epidemics isn’t one of them.”
Tags: Achievements, Boss, Cities, Coronavirus, Earth, Fate, Humanity, Immunity, Nature, Victims, Wealth
Wall Street Journal (August 31)
Another recession “could be devastating for people who have only just recovered.” The record long U.S. expansion “has showered” the top 1% of households with “staggering new wealth,” but bypassed others. “The bottom half of all U.S. households, as measured by wealth, have only recently regained the wealth lost in the 2007-2009 recession and still have 32% less wealth, adjusted for inflation, than in 2003…. If another recession comes, it could be devastating.”
The Guardian (January 8)
Many of the voters who voted for Brexit “felt abandoned and unheard in an increasingly unequal Britain marked by vast wealth in parts of south-east England and austerity and post-industrial abandonment elsewhere. Income levels in London have risen by a third since the financial crash–but have dropped by 14% in Yorkshire and Humberside.” Their concerns are real, but “all the major parties have, in different ways, let the country down on Brexit,” making a second referendum essential.
Tags: Austerity, Brexit, Financial crash, Income levels, Post-industrial abandonment, Referendum, UK, Unequal, Voters, Wealth
Chicago Tribune (December 26)
“China is both a customer of the United States and a competitor. Friend but possibly foe. The relationship is complex and unresolved…. It may be China’s destiny to match the United States in wealth and firepower. Those are not reasons to fear China. They are reasons to engage the country today as a partner and challenge Chinese intentions when they appear threatening.”
Tags: Challenge, China, Competitor, Complex, Customer, Engage, Fear, Firepower, Foe, Friend, Threatening, U.S., Unresolved, Wealth
New York Times (July 1)
“There’s an anomaly in an economy that is supposedly running flat out: Many families still haven’t recovered the wealth they lost in the financial collapse…. Despite high stock prices and record home prices, household net worth since 2007 has decreased for all income groups — except the top 10 percent.”
Tags: Anomaly, Economy, Families, Financial collapse, Home prices, Household, Net worth, Stock prices, Wealth
The Indian express (February 1)
“This is a revolutionary Budget. It has major, big-ticket announcements which will help India take a giant leap in our aspirations to establish a New India.” Perhaps the most ambitious is a measure to expand health insurance to half a billion people. “With this added health cover benefit, we can be truly proud of being a growing economy with concerns of the marginalized and the disadvantaged being well taken care of. In a way, this is a redistribution of wealth generated in favour of the poor and the impoverished.”
Tags: Benefit, Budget, Disadvantaged, Health insurance, Impoverished, India, Marginalized, Redistribution, Revolutionary, Wealth
