QUOTE(poooky @ Mar 10 2025, 04:17 PM)
A lot of people don't know about hukou system. Especially youngsters. If not our grandfather's leave the motherland, most of us become foxcon factory work at best.
yes, previously hukou system was very restrictive, does hinders some of the development is the old times.
but the government actually make a lot of changes thru out history, and now if you have a rural hukou, it is much more valuable than urban hukou nowadays. The government system is very dynamic, and a lot of changes has been taken place, which is one of the main reason why you can start to see some kind of innovation taken place.
In previous year, each city will release a certain quota on which you can change your rural hukou to urban hukou, in the past usually all the quota will be snatched up, but these recent years, all the quota for urban hukou are not filled up, because rural hukou more value nowadays due to rural hukou, the government will give out lands, which if there is development, you can get a compensation.
if you look at ali baba, ma yun also started out as a poor teacher.
huawei first office was actually in an small apartment, because ren zeng fei, could not afford to rent an office.
bytedance owner also comes from a normal family background.
Lei Jun of xiaomi was born on 16 December 1969 in the city of Xiantao, Hubei, China. Both of his parents were teachers, which was a disgraced profession after the Cultural Revolution;[3] his father made $7 per month.
to see if a country is more corrupt than others, one of the metric that i use is look at the top 10 richest people in that particular country. If that country top 10 is mostly comes from real estate (which you need to get cheap lands from government), or telco (which you need to get special licence from government), oil & gas (which you need to get licence from government), which means that country is quite corrupt.
comparably you can look at US top 10.
Elon Musk: $244 billion, wealth from Tesla and SpaceX
Jeff Bezos: $197 billion, wealth from Amazon
Mark Zuckerberg: $181 billion, wealth from Meta
Larry Ellison: $175 billion, wealth from Oracle
Warren Buffett: $150 billion, wealth from Berkshire Hathaway
Larry Page: $136 billion, wealth from Alphabet
Sergey Brin: $130 billion, wealth from Alphabet
Steve Ballmer: $123 billion, wealth from Microsoft
Bill Gates: $107 billion, wealth from Microsoft
Michael Bloomberg: $105 billion, wealth from Bloomberg L.P.
china top 10
Zhong Shanshan: $50.8 billion nong fu
Ma Huateng: $46.8 billion wechat
Zhang Yiming: $45.6 billion bytedance
Colin Huang: $43.9 billion PDD
Robin Zeng: $37.1 billion CATL
He Xiangjian: $28.6 billion Midea
William Ding: $27.4 billion netease
Jack Ma: $25.2 billion ali baba
Wang Chuanfu: $22.8 billion BYD
Lei Jun: $19.9 billion xiaomi
India top 10
1 Mukesh Ambani Increase 116 billion Reliance Industries Oil & gas, telco
2 Gautam Adani Increase 84 billion Adani Group Port operator, power
3 Shiv Nadar Increase 36.9 billion HCL Technologies IT services and consulting
4 Savitri Jindal Increase 33.5 billion JSW Group (previously was minister in india)
5 Dilip Shanghvi Increase 26.7 billion Sun Pharmaceutical Industries Pharmaceuticals
6 Cyrus Poonawalla Decrease 21.3 billion Serum Institute of India Vaccines
7 Kushal Pal Singh Increase 20.9 billion DLF Real estate
8 Kumar Mangalam Birla Increase 19.7 billion Aditya Birla Group Textiles, telco, cement
9 Radhakishan Damani Increase 17.6 billion Avenue Supermarts, DMart Investments, retail
10 Lakshmi Mittal Decrease 16.4 billion ArcelorMittal Steel
mexico top 10
Carlos Slim - US$93.0 billion - Telco
Germán Larrea Mota-Velasco - US$26.6 billion - Mining
Ricardo Salinas Pliego - US$10.9 billion -Telco
Daniel Servitje - US$7.7 billion - food processing
Alejandro Baillères - US$6.9 billion - insurance
Olegario Vázquez Aldir - US$6.4 billion - hotels, media
María Asunción Aramburuzabala - US$6.2 billion - Grupo Modelo
Eva Gonda de Rivera - US$5.8 billion - FEMSA
Juan Domingo Beckmann - US$4.5 billion - José Cuervo
Jerónimo Arango - US$4.4 billion - Walmart de México y Centroamérica
if you notice that the top 10 richest in US and China, is fairly similar. none of them are in the industry where you need a special licence from the government which a normal people cant get access to.
Can a normal person open a telco company and get telco license from government without some connection?
if you look at the list even India billionaire are richer than china billionaire, while china gdp is 5 times of india gdp.
China and US billionaire are quite young compare to other countries.