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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (2536)1/21/2004 10:48:26 PM
From: RealMuLan  Read Replies (1) of 6370
 
Spending frenzy for China's wealthy
From Jaime FlorCruz
Wednesday, January 21, 2004 Posted: 1022 GMT ( 6:22 PM HKT)


BEIJING, China (CNN) -- Chairman Mao might have turned in his grave had he seen the convoy of Ferraris parade by Tiananmen Square, swing under his huge image overhanging the entry to the Forbidden City and roar right past his mausoleum.

In defiance of Mao's old slogan, "simple living and hard struggle," many Chinese are amassing so much wealth that nearly one hundred mainland Chinese can afford a brand new Italian sports car.

"The number is growing," says Richard Lee from Beijing's Italian Motors. So who, exactly, is buying these much desired autos?

edition.cnn.com
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