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Children of the Yuan Percent: Everyone Hates China's Rich Kids

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Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#61
post #17

Earlier quoted context omitted.

even if food is not. Good food is not cheap. In NYC, we pay 8$ for a decent sized watermelon - almost all fruits are expensive, and most vegetables too. Only shitty food like chips, soda, candy, fast food etc are cheap.

Watermelons are out of season dude. They're only cheap in the summer. Its fall, so citrus (ie: oranges, tangerines) and apples are now cheap. Carrots, Celery, Potatoes, Oats (Oatmeal), Breakfast Cereal, Cereal Cereal, Onions, Kidney Beans, Green Beans, Milk make a good baseline for a cheap and nutritious meals year round. You grab Broccoli in the Winter, Pineapples and Lettuce in the Spring, Cherries and Watermelons…

Being in NYC probably inflates the prices overall too.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#62
post #44

Earlier quoted context omitted.

Even in English it's a serious stretch. I just checked my /usr/share/dict/words for everything starting with "y" and nothing else that uses a Y for a W sound is leaping out at me.

> I just checked my /usr/share/dict/words for everything starting with "y" If they ever find a way of converting nerd cred into dollars, you'll be in a very good position.

I've known that for about 25 years.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#63

I visited China in 1982, when the capitalist revolution was just getting started. Such wealth did not exist, but there was a deep, simmering anger among the people over Communist corruption and general unfairness and inequity. I witnessed it personally. Now that there's a bit more prosperity and availability of material goods, but still no freedom and still a simmering resentment of government corruption, this fuerda…

The most worrisome timing is when the system runs out of fuel. It would be a disaster for people living on the land. Fightings on the land are usually very brutal and violent. If there is any true hope, it will emerge after the messy chaos. But I'm afraid after the chaos it would be just the start of the same old story.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#64

I had trouble understanding this title, and I realized it's because I speak Chinese. "Yuan" doesn't sound anything like one. it's more like "you" + "an"

I was told in China it was pronounced "wahn", so the title makes sense to me.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#65
post #45

An underlying motif of the article seems to be that the fuerdai not only do not want to work hard but also that they only deserve the best jobs. One example: "It’s no surprise that most fuerdai, after summering in Bali and wintering in the Alps, reading philosophy at Oxford and getting MBAs from Stanford, are reluctant to take over the family toothpaste cap factory." However, at least some of the parents fortunes cam…

One level of abstraction up is another motif that can be observed in almost every facet of life - regression to the mean.

Extremely hardworking, gritty, lucky parents -> fuerdai who never felt cared for, feel no sense of purpose, and want to extend their childhood.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#66
post #54

I visited China in 1982, when the capitalist revolution was just getting started. Such wealth did not exist, but there was a deep, simmering anger among the people over Communist corruption and general unfairness and inequity. I witnessed it personally. Now that there's a bit more prosperity and availability of material goods, but still no freedom and still a simmering resentment of government corruption, this fuerda…

Large scale social unrest is just what the communists fear the most. To me, that's not worrisome - it's hopeful. Just opining, and I understand that the collateral costs would be worrisome for everyone in the short term.

> collateral costs

Read "human lives".

I understand and share your sentiment regarding the fact that a chance towards a (seemingly) more liberal form of government is good. But I'd be hesitant to call the costs of unrest at such a scale merely worrisome. The only thing I hope for is that change will come slowly, if it comes at all.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#67
post #54

I visited China in 1982, when the capitalist revolution was just getting started. Such wealth did not exist, but there was a deep, simmering anger among the people over Communist corruption and general unfairness and inequity. I witnessed it personally. Now that there's a bit more prosperity and availability of material goods, but still no freedom and still a simmering resentment of government corruption, this fuerda…

Large scale social unrest is just what the communists fear the most. To me, that's not worrisome - it's hopeful. Just opining, and I understand that the collateral costs would be worrisome for everyone in the short term.

[deleted]

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#68

Further down in the article, some interesting points about the motivations behind philanthropy. "philanthropy is about more than just social responsibility—it’s about social stability." So other than a genuine desire to do good or vanity seeking that can motivate philanthropy, you have a third element in China - preventing a revolt by the poor on the rich. If you give just enough, you'll keep the poor subdued. I wond…

I really liked this sentiment of Oscar Wilde on charity: “[Charity] is not a solution [to poverty]: it is an aggravation of the difficulty. The proper aim is to try and reconstruct society on such a basis that poverty will be impossible…Just as the worst slave-owners were those who were kind to their slaves, and so prevented the horror of the system being realised by those who suffered from it, and understood by thos…

That quote has always bugged the shit out of me, because: those were only the worst slave owners for future generations of sociology and history students (who mostly didn't descend from slaves).

For the actual slaves themselves, the worst slaveowners were the ones who whipped and tortured their slaves in an attempt to extract more value (or just for fun), those who separated children from parents, raped the women or forcibly bred them, and who killed their loved ones for relatively minor insubordination (or just for fun).

It's one of those pithy cocktail party quotes that is complete bullshit。

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#69

Funny to think that China was reforged under communist ideals only 50 years ago, and that the hatred of the poor rural folk for the wealthy, corrupt royals and warlords was strong enough to unite allow the country to expel the Japanese, the British, and the KMT. It's my view that the standard of living for the poor and lower classes has improved enough that there would not be enough hatred to fuel a revolution. Disgu…

With the advent of consumerism, high-tech mass surveillance, and control of mass communication channels I think China has reached what political scientists refer to as "the end of history". Meaning that society will stay stable and no revolutions will be possible. At least for a few hundred years.

Re: Children of the Yuan Percent: Everyone Hates China's Rich Kids

#70
post #4

Cool headline, but given the population of China, we're probably talking children of the 0.001%

"The top 1% of Chinese families hold an average of $1.6 million in assets ... an annual income of $91,639 puts you in the top 1% in China"

http://blogs.wsj.com/chinarealtime/2013/09/23/what-percent-a...

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