2012? the time China just started..
China average income is around 10000$ a year, but think about China is one fifth of the humanity, many live in the mountains and deserts in Xinjiang , Tibet and Inner Mongolia, so average doesn't represent the wealth, first tier cities like Shenzhen is 22000$ average, China has the world biggest middle class and buy up nearly half of world total luxury goods.
Guess you don't know which city has the most billionaires on this planet, it's my home city, Beijing, holding the top spot for many years already.
Beijing is ‘Billionaire Capital of the World’
By Ariel R. Shapiro
March 1, 2018 4:20 p.m. ET
The number of billionaires around the world is rising rapidly, according to the Hurun Report’s
2018 Rich List, with China leading the pack.
As of Jan. 31, there are 2,694 billionaires in 68 countries, an additional 437 billionaires since last year, which amounts to an annual increase of 19.4%.
At 819 billionaires, China not only has the most by far, it is also gaining new ones at the fastest rate, having welcomed 210 new billionaires in the last year. Additionally, Beijing gained Hurun’s title of “Billionaire Capital of the World,” as the home of 131 billionaires.
The United States has the second-highest number of billionaires at 571, but the country only added 19 new billionaires in the last year.
In terms of national ranking, India comes in a distant third with 131 billionaires, accounting for an increase of 31 billionaires in the last year. It moved up a spot, from fourth place in 2017. Mumbai took the eighth spot in the city ranking, with 55 billionaires.
Although nearly all countries ranking in the top 27 saw an increase in billionaires over the past year, there are a few exceptions. Austria, with 12 billionaires, saw no change. South Korea, home to 33 billionaires, decreased by one. The Philippines went down to 12 billionaires from 14.
While Beijing holds the top spot amongst cities, it is not the only Chinese metropolis home to billionaires. Hong Kong and Shenzhen come in third and fourth, respectively. Shanghai is tied with London for fifth place.
New York, the only American city in the top 10, has 92 billionaires.
San Francisco was tied with Tokyo and Singapore for the 13th spot, each being home to 31 billionaires. Los Angeles is ranked 21st, with 24 billionaires.
The United States still dominates Hurun’s list of the world’s top-10 wealthiest individuals. Seven of the 10 richest people in the world are American.
Jeff Bezos, 54, founder and CEO of Amazon, leads the pack with a net worth of US$123 billion. Bezos saw a 71% increase in wealth in a year-over-year comparison.
Warren Buffett, 87, chairman and CEO of Berkshire Hathaway, maintained his second-place spot with a net worth of $102 billion, a 31% year-over-year increase.
Bill Gates, 62, came in third, despite holding the top spot last year. His net worth stands at $90 billion, an 11% increase since last year.
https://www.barrons.com/articles/beijing-is-billionaire-capital-of-the-world-1519939245