Japanese CG Idol Pictures:
For while the alpha girls who are exceptional in their work and abilities, many are hopeless when it comes to practicalities such as dating or managing their money.
"Others envy my daughter, who's a doctor, but she's a pain in the neck to me,” grumbles Hwang (61) concerning her 35-year-old single daughter. “Who would understand my worries?" Just that morning, the daughter rang asking her mother to take care of her unpaid electricity bills. Hwang used to brag about her doctor daughter, but now she is starting to worry about how much longer she will have to look after her. Kim, in her 50s, shares the same concerns about her daughter, a university instructor. She's appalled that her educated daughter has declared to marry a divorced man, and that she was the one who asked him for his hand.
Mothers of so-called alpha girls -- girls or women who beat their male counterparts in all areas from academic prowess to sports -- have a tough job in Korea.
■ Alpha at Work, Omega in Love
Experts say it's no coincident that alpha girls often prove omega girls (from the last letter in the Greek alphabet) when it comes to romance. Whang Sang-min, a professor of psychology at Yonsei University, says alpha girls are obsessed with having to excel in everything and more likely to form unsuitable relationships, attracted as they tend to be to older men and lacking the needed concern for the partner's financial capacity. Park Jin-seng, the director of Dr. Park's
Psychiatric Clinic, says these women unconsciously dislike men they
have to compete with, so they gravitate toward men with lowlier jobs
than theirs or even no job at all.
■ Eyesore to Mothers
When they become alpha mums, such women often pass on the duty of child rearing and homemaking to their mothers. Hahm In-hee, a sociology professor at Ewha Womans University, says alpha girls in the West leave their parents early so they become superwomen in both work and real life, but here lack of independence is to blame for their Korean sisters’ lack of competencies in real life.■ Excessive Protection a No-No
“Alpha girl” originally means a woman thoroughly capable of self-management in all aspects of life. But in Korea, the job element is inflated, distorting the true meaning. Prof. Hwang points out that many parents, bent on raising studious daughters, are neglecting the competencies needed to manage a full life. Park, too, advises parents to acknowledge their daughters as independent beings and instill that mindset in them.■ 68% of Korean Women Prefer to Remain Single
In a recent survey, 68 percent of Korean women in their 20s and 30s admitted they wanted to remain gold misses, which means a growing number of modern Korean women are looking for success and happiness in their own way, regardless of marriage.
As a successful alpha woman and a founding member of the Freechal Old Maid community, Choi gave a list of 10 false impressions alpha women tend to create for themselves, based on her long experience as a single:
① My perfect man is out there somewhere. - This is nothing more than a fantasy. There is no perfect man.
② If I only just keep waiting for him, one day my soul mate will come - Keep waiting and you will only get older.
③ Women who lack in the looks department have to be good-natured - What a nice girl complex! Good looks are not as important as you think.
④ Pride is who I am. I bend for no man. - The epitome of a "princess syndrome" sufferer. Go ahead, hold onto those thoughts…You'll die single.
⑤ Shouldn't I be getting married about now? - Snap out of it! The single days are the heyday of your life. Enjoy it while it lasts.
⑥ Isn't love something you can feel at first glance? - Attraction does not necessarily mean love. Be weary of confusing a first attraction with love.
⑦ A somewhat cold man with a little charisma would be alright? - It's romanticism misunderstood, when smart women chase after the brooding bad boy.
⑧ Is this your 101st go-around with unrequited love? - If you've been rejected, resolutely walk out the door and start looking for someone else.
⑨ Was sweeter the love of days of yore? - Do not cling to the past. Reminiscing is, at its core, an exercise in futility.
⑩
In love, is it ok to melt into the relationship like a salt statue
dissolves in the rain? - This is the "loss of self." One cannot love,
if one no longer exists.
Creative Japan Lingerie Designs:
The TV personality husband, Park Chul, pressed charges against his wife, Ok So-ri, both 39, and the two men under South Korea’s adultery law, which prohibits extramarital affairs and can land those found guilty in prison for up to two years. Then Ms. Ok, 39, took the drama a step further. She admitted to having an affair (with the friend, not the chef). And she filed a petition in court, dragged a new enemy into the kerfuffle: South Korea's 55-year-old adultery law that punishes an extramarital affair as a crime.
"The state meddling in which sex partner we should have - that's too much," Lim Sung Bin, Ok's lawyer, said on May 8 after a three-hour hearing at the Constitutional Court, where his client did not appear. "Such a time is gone."
The nine-member court said it would rule on the case soon but did not give a date. It is deliberating Ok's suit with three other petitions against the adultery law, all filed in the past year.
South Korea is among a dwindling number of non-Muslim countries where people can go to jail for adultery. About 70 percent of South Koreans support the adultery law, according to surveys conducted in recent years by the government and the news media.
Each year, more than 1,200 people are indicted under the law, which calls for up to two years in prison for the adulterer and his or her partner.
"'Some argue that no law should intrude beneath the quilt," said Han Sang Dae, a Justice Ministry official who defended the adultery law during the Constitutional Court hearing. "But if we allow freedom for extramarital affairs, it will threaten our sex morality as well as monogamy, a foundation of our society."
The Constitutional Court has already ruled three times in favor of the adultery law, the last time in 2001.
But Ok's challenge comes as the law is losing some of its staunchest backers. Two longstanding champions of women's rights and the adultery law - the Korean Women's Association United and the Ministry of Gender Equality - now say it is time for South Korea to consider abolishing the law.
A sign that South Korea’s strict sexual mores may be loosening: so-called “love motels” are cropping up across the country, like in this back alley in Busan:
With their economic and legal status rising, many women no longer tolerate adulterous husbands or fear divorces. But with a growing number of husbands applying the law against their wives, they are discovering - as in Ok's case - that the law can be a two-edged sword: at times more a violator of privacy than protection for women.
The number of divorces in South Korea has increased from 79,895 couples in 1996 to 124,600 last year.
In 2006, 11,244 couples fought over divorce in court because of infidelity. In 39.7 percent of those cases, it was the husband accusing the wife, up 3.5 percentage points from 1999.
"Adultery was once considered something only husbands could do. But now women think they can do it too, and some of them actually do it," said Kwak Bae Hee, head of the Korea Legal Aid Center for Family Relations, a nongovernmental agency that provides legal counseling for family problems.
The way the scandal of Ok and Park has unfolded highlights the changing sexual dynamics.
Park filed divorce and adultery lawsuits in October, saying he had evidence that his wife engaged in extramarital affairs with an Italian chef in a Seoul hotel and with an opera singer. In a highly unusual move for a South Korean woman embroiled in a sex scandal, Ok then called a news conference to defend herself. She admitted that she had had a sexual relationship with the singer, but not with the chef.
"I had a very lonely and unsatisfied marriage because of a loveless husband," Ok said, fighting back tears. "We only had sex 10 times in our 11 years of marriage."
Park, for his part, said he felt like "an innocent pedestrian hit by a car."
"Ninety-eight percent of what she said was either distorted or wrong," he said at a news conference. "I hope I never see her again the rest of my life."
The debate over the adultery law triggered by the scandal has highlighted a paradoxical aspect of South Korean culture: the juxtaposition of straight-laced traditional values with increasingly liberal attitudes toward sex.
The government estimates the nation's sex trade at 4.4 percent of its gross domestic product, with more than half a million women active in the business. Not far from school grounds, love motels offer short stays and such amenities for patrons as covering their license plates.
Pornographic Web sites proliferate in a country where 8 of every 10 households have broadband Internet. But in classrooms, sex education is discouraged.
Those who oppose the adultery law say it is so difficult to build a criminal case that the law has become irrelevant. A conviction requires proof of sexual intercourse.
Cases have been reported in which spouses, accompanied by police officers, raid motel rooms, with cameras flashing. Such methods have triggered charges of violating privacy and human rights, and the average number of people indicted on adultery charges dropped from 2,000 a year in the late 1990s to 1,200 a year in the past three years.
And punishment has become increasingly lenient. Last year, only 47 out of the 1,219 people indicted on adultery charges ended up behind bars, compared with 393 out of 1,902 in 2001. The vast majority walk away with suspended sentences or after the charges are withdrawn by their spouses.
Some experts also find it absurd that South Korea criminalizes adultery while there is no law punishing, say, incest.
Still, many think it is too early to rescind the adultery law. In a country where many women silently suffer their husbands' infidelity out of fear that a divorce could impoverish them, adultery charges remain a potent tool to secure a better financial settlement or child custody, Kwak said.
"Korean men, many of them still get away with adultery because women are the weak," said Ha Ji Eun, a student at Ewha Woman's University in Seoul. "It was as recently as during my grandparents' days that men brought in concubines and kicked out their wives. If this law is abolished, I am sure women will suffer more."
Source: NYTimes, IHT
HURUN REPORT RELEASES 9TH ANNIVERSARY EDITION OF
CHINA RICH LIST, PROUDLY PRESENTED BY ROYAL SALUTE
▪ 106 USD BILLIONAIRES MAKING CHINA HOME TO
MORE BILLIONAIRES THAN ANYWHERE OTHER THAN US
▪ 26-YEAR OLD YANG HUIYAN CHINA NUMBER ONE
WITH US$17.5 BILLION, AFTER FATHER YANG GUOQIANG TRANSFERRED SHARES TO HER
▪ TOP TWO ARE WOMEN
▪ AVERAGE WEALTH DOUBLES IN PAST YEAR
▪ LIST EXPANDED TO 800 INDIVIDUALS UP FROM 500
LAST YEAR
Breaking through the US$10 billion barrier – two women on top
26-year old Yang Huiyan catapulted to the top spot on the back of her 59.5%
share of property developer Country Gardens. Yang’s personal fortune of US$17.5
billion makes her the first of two Chinese to break through the US$10 billion
mark, and the richest women in Asia.
In second place is fifty-year-old Zhang Yin, last year’s number one, who saw the value of her 72% holding in Nine Dragon Paper triple to US$10 billion following a surge in its share price. The richest self-made woman in the world, Zhang continues to widen the gap with the likes of Giuliana Benetton (co-founder of the Benetton empire), Rosalia Mera (co-founder of Zara), Oprah Winfrey (celebrated US television hostess), Margaret Whitman (eBay founder) and JK Rowling (author of Harry Potter series). Zhang founded Nine Dragons in the mid-eighties and today owns 72% of its shares together with her Taiwan-born husband Liu Mingzhong and her brother Zhang Chengfei.
Yang Huiyan’s fortune heralds from churning out modestly priced homes predominantly in South China and a massive land bank of forty five million square meters. Since its listing in April, when Country Garden raised US$1.7 billion, the company's shares have risen 140 percent in value. Born into a poor farming family, low-key Yang Guoqiang began to acquire land in the mid nineties at the bottom of the market. Yang Huiyuan holds 59.5% of Country Garden. Her 52-year-old father Yang Guoqiang, founder and chairman, transferred his shares to her after she completed her studies in the US.
“These success stories are encouraging a large number of young Chinese to entrepreneurship,” says Rupert Hoogewerf, publisher of Hurun Report, China’s leading luxury business magazine with an audited circulation of 60,000. “China’s entrepreneurs are enjoying a surge in confidence.”
More billionaires than anywhere other than the US
Dramatically led by 106 US dollar billionaires, the ninth anniversary edition of
the Hurun Rich List shows that Mainland China now has more US dollar
billionaires than any country other than the US. Heralding a new era in the
Chinese economy, this is up from fifteen billionaires last year and none in
2002. With a cut-off of US$105 million, the list features 300 new faces to bring
the total number to 800, up from 500 last year. The average wealth has doubled
over the past year to US$562 million. The Hurun Rich List has a combined
net worth of US$457 billion.
China’s richest have reaped windfalls from a sharp hike in property prices and the burgeoning Chinese stock markets, which have continued to rise despite the summer’s jitters around the rest of the world.
“2007 has been China’s coming of age in terms of personal wealth creation,” says Rupert Hoogewerf. “However, there is still plenty of growth opportunity as China’s top entrepreneurs turn their sights to the vast undeveloped and largely unregulated economic hinterland.”
The stories of these people tell the story of modern China
The highest new entry at number six and the youngest self-made individual on the
Hurun Rich List is 32-year old Peng Xiaofeng, founder of LDK
Solar, which listed on the NYSE this June amassing Peng a US$5.3 billion paper
fortune. LDK Solar manufactures solar wafers, the principal raw material used to
produce solar cells.
Xu Rongmao at number three has seen his wealth grow to US$7.5 billion, up US$5.5 billion since last year. With 15% of Shanghai’s five-star hotel rooms, Xu has been aggressively expanding his portfolio across the country and even into Russia. Since first making the Hurun Rich List in 2001, Xu has consistently maintained a top five ranking.
Huang Guangyu, twice previously a number one, comes in fourth with US$6 billion, on the back of a hike in GoMe’s share price and having now cashed out close to US$1 billion in total, making him China’s cash-richest individual. His Suning rival Zhang Jindong has seen his wealth rise more than six-fold to US$5 billion on the back of a strong performance by his Shenzhen-listed vehicle. The electronic retailing giants both have brothers in property development on the list, with Huang Junqing coming in at US$2.7 billion and Zhang Guiping at US$3 billion, giving the Huang brothers a combined wealth of US$8.7 billion and the Zhang brothers US$8 billion. Huang Junqing is currently in the process of injecting further assets into his HK-listed vehicle which – if successful – could value him at US$15 billion.
Zhang Li, co-founder of R&F, another property developer originating in South China, has also seen his wealth triple as R&F has built up its land bank across the country.
Larry Rong, son of the late Chinese vice-president Rong Yiren and the only dynastic fortune in Mainland China, at the end of last year bought a 1.1% US$800 million stake in Anglo American, South Africa’s largest company, a landmark deal in China’s aggressive acquisition of African resources.
Investor Guo Guangchang rejoins the top ten for the first time in four years after raising US$1.5 billion in a Hong Kong listing in June. With investments in steel, property, retail, pharmaceuticals and mining, Fosun is well placed to tap the international capital markets for further investment opportunities.
Nine of the top ten richest individuals have listed companies. The largest unlisted company is Hengda, another property developer in South China. There are four new faces in the top ten. The average age of the top ten is 46 years.
Proudly presented by Royal Salute
"Royal Salute is proud to present the 2007 Hurun Rich List," says Terence
Ong, Brand Director of Pernod Ricard China. "As the prestigious super-premium
Scotch whisky, Royal Salute has been long recognized as the mark of respect for
exceptional achievements in any field, we believe that only by presenting the
best to the best can these Chinese entrepreneurs on the list feel our heartfelt
respect."
Some Background
The rich in China are growing much faster than their Western counterparts. The
average wealth of the Hurun 800 is now US$562 million, a 104% increase on 2006.
It takes US$105 million (up 5% due to the appreciation of the RMB) to make the
list – a far cry from our inaugural list of China’s richest people nine years
ago, when we could only rank fifty individuals with a cut-off then of US$6
million. Property development continues to be the greatest creator of private
wealth in China followed by manufacturing. It seems unthinkable that twenty
years ago land had only negligible value. Most are based in Guangdong, which
houses 139 of the 800, and another 124 live in Zhejiang.
The profile of the China’s richest is a 47-year old man from East China in property development or manufacturing, who started his business in 1993.
Surge in confidence
With the Olympics now only a year away, there is a huge surge of confidence
exuding from China’s top entrepreneurs, whose wealth is growing much faster than
GDP. Laws put in place to protect private property and a growing sense that the
government is now relying on private enterprise to drive forward the economy has
boosted their confidence. Encouraged by fast-growing employment and increased
tax payments, local governments are strongly supporting their local success
stories. Television programmes, such as local versions of The Apprentice
or CCTV’s Business Leader of the Year, now glamorize entrepreneurship.
The economic landscape is comparable to the US in the sixties having moved on from the robber baron period of the late nineteenth century, when vast areas of the economy were wide open to be exploited by smart, ruthless and fast-moving entrepreneurs.
Methodology
Valuing the wealth of China’s richest is as much an art as it is a science. Sure
we have missed some people, but we believe the Hurun Rich List is the
most serious attempt to identify China’s top entrepreneurs and to measure their
holdings. Our team of researchers has - for the ninth year running - traveled
the length and breadth of the country cross-checking information with
entrepreneurs, industry experts, journalists, bankers, and regulators, as well
as previous years’ databases. The cut-off date for valuation of listed companies
was August 31, 2007. For non-listed companies we valued by comparing them with
their listed equivalents using prevailing industry P/E ratios. This list relates
to Mainland Chinese only, defined as someone born and brought up in Mainland
China, no matter what passport they might hold today.
Appendix – Interesting facts
1. Companies that created the most individuals on the list
a) Minsheng Bank – 9 individuals led by Liu Yonghao
b) Ping’An Insurance – 7 individuals of whom little is known
c) West Mining – 7 individuals
d) Sany Heavy Industries – 6 individuals
e) Suning – 6 individuals led by Zhang Jindong
f) Country Garden – 5 individuals, led by Yang Huiyan
g) Erdos – 5 individuals led by Yang Zhicheng
h) Midea – 5 individuals led by He Xiangjian
2. Average wealth of Hurun Rich List has doubled over the past year to US$562 million (2006: US$276 million, 2005: US$187 million).
3. Total wealth: US$457 billion.
4. Youngest on list. 67 individuals are under the age of 40 on the list, led by
Yang Huiyan. The youngest self-made entrepreneur is Xue Lixi, an investor into a
listed company.
| Age | Name | Wealth | US$m Company |
| 26* | Yang Huiyan | 17,500 | Country Garden |
| 26* | Li Zhaohui | 1,100 | Haixin Group |
| 27* | Ceng Sheng | 240 | Honglong Holding |
| 30 | Xue Lixi | 270 | Fengrong Investment |
| 32 | Peng Xiaofeng | 5,300 | LDK Solar |
| 32 | Wu Rongguang | 105 | Hongxingerke Group |
| 33* | Shi Yuewu | 310 | Zhengxing Group |
| 33 | Xian Yang | 1,850 | Hidili Industry |
| 33 | Chen Yamei | 370 | Hengshunchang |
| 34 | Chen Tianqiao | 1,300 | Shanda |
| 34 | Fang Wei | 290 | Liaoning Fangda Group |
| 34 | He Jilun | 130 | TimeShare Media |
| 34 | Jiang Nanchun | 530 | Media |
| 34 | Wang Weixian | 630 | Property |
| 35 | Chen Jianhua | 330 | Chemical fibers for textiles |
| 35 | Liu Yingxia | 210 | Property |
| 35 | Dong Defu | 160 | Techfaith Wireless |
| 35 | Li Shujun | 310 | Yingli Solar |
| 35 | Liu Yingxia | 210 | Xiangying Group |
| 35 | Liu Zhixiong | 310 | 3Nod Group |
| 35 | Zhang Zhirong | 400 | Hongyun Group |
| 35 | Qian Yongqiang | 120 | Liandong Weiye Technology |
| 35 | Wang Zhongwang | 240 | Zhongwang Group |
| 35 | Zhang Zhidong | 500 | Tencent |
| 35 | Yao Juan | 1,000 | Fuji Food |
* inherited wealth
5. Cut-off to make list this year was US$105 million. The RMB figure remained at
RMB 800 million, however with the exchange rate fluctuation in the past year,
the US$ cut-off changed by 5%.
| Year | Cut-off US$m | No of people on list |
| 1999 | 6 | 50 |
| 2000 | 42 | 50 |
| 2001 | 60 | 100 |
| 2002 | 84 | 100 |
| 2003 | 110 | 100 |
| 2004 | 150 | 100 |
| 2005 | 60 | 400 |
| 2006 | 100 | 500 |
| 2007 | 105 | 800 |
6. Average wealth of top fifty grew at 372%, much faster than the average wealth of the Hurun 800, which grew at 204%. Below is a chart with the average wealth figure of the top fifty since 1999, together with the cut-off to make the top fifty.
| Year | Av wealth US$m | Cut-off US$m |
| 1999 | NA | 6 |
| 2000 | 203 | 42 |
| 2001 | 278 | 110 |
| 2002 | 274 | 145 |
| 2003 | 326 | 180 |
| 2004 | 413 | 230 |
| 2005 | 611 | 320 |
| 2006 | 970 | 525 |
| 2007 | 3,609 | 1,600 |
7. Previous year number ones
| Year | Name | Wealth US$m |
| 1999 | Rong Yiren | 1,000 |
| 2000 | Rong Yiren | 1,900 |
| 2001 | Liu Yongxing, Liu Yonghao & bros | 1,000 |
| 2002 | Larry Rong Zhijian | 850 |
| 2003 | William Ding Lei | 900 |
| 2004 | Huang Guangyu | 1,300 |
| 2005 | Huang Guangyu | 1,700 |
| 2006 | Zhang Yin & family | 3,400 |
| 2007 | Yang Huiyan | 17,500 |
8. 18 new entrants in Top 100 Peng is the highest new entry to the Rich List, making it to the top ten, followed by Zhang Guiping. Below is a list of the highest new entries. There were 340 new entries this year.
| Rank | Wealth US$m | Name | Company | Industry |
| 6 | 5,300 | Peng Xiaofeng | LDK Solar | Solar panel components |
| 21 | 3,000 | Zhang Guiping | Suning Universal | Real estate |
| 33 | 2,200 | Kong Jianmin & family | KWG Property | Real estate |
| 36 | 2,000 | Xiong Xuqiang | Yinyi Group | Real estate |
| 40 | 1,900 | Ding Shizhong & family | Anta | Sports apparel |
| 41 | 1,850 | Lin Li | Liye Group | Insurance |
| 41 | 1,850 | Xian Yang | Sanlian Group | Coke |
| 44 | 1,800 | Zhu Linyao | Huabao | International Fragrances & Flavouring |
| 45 | 1,700 | Gao Yanming | North China Shipping | Shipping |
| 50 | 1,600 | Chen Yihong | China Dongxiang | Sports apparel |
| 65 | 1,300 | Mo Feng | Transfield ER Group | Shipping |
| 65 | 1,300 | Ou Tongguo | ITAT Textile | retail |
| 76 | 1,200 | Ren Yuanlin | Yangzijiang Shipbuilding | Shipbuilding |
| 81 | 1,050 | Wu Yajun | Longhu | Real estate |
| 93 | 1,000 | Dong Shutong | CNR | Holdings Steel |
| 93 | 1,000 | Geng Jianming & Geng Jianfu | RiseSun Holdings | Real estate |
| 93 | 1,000 | Guo Ziwen | China Aoyuan Property Group | Real estate |
| 93 | 1,000 | Zhou Lianqi & family | Septwolves | Textiles |
| 107 | 950 | Ding Shuibo | Xtep | Sports apparel |
| 109 | 880 | Liu Xiaomeng | Suning | Electronic appliance retail, Real estate |
| 115 | 800 | Chen Jianming | Sansheng-Hongye Group | Real estate |
| 115 | 800 | Dai Weili | Marvell | IT |
| 115 | 800 | Fan Wei | Fosun | Diversified |
| 115 | 800 | Wang Dong | Yangzijiang Shipbuilding | Shipbuilding |
| 115 | 800 | Wang Yucheng, Wang Wencheng, Wang Guocheng (brothers) | Xingye Group | Diversified |
| 115 | 800 | Zhu Yuguo | Qunxing Paper | Paper |
| 130 | 750 | Liu Zhiqiang & Zai Meiqing | Heung Kong Group | Real estate, furniture retail |
| 132 | 730 | Zhou Guohui | Eternal Asia | Supply Chain Management |
| 138 | 700 | Hu Mingcong & family | BYE | Cabling |
| 146 | 650 | Huang Maoru | Maoye Group | Real estate, Retail |
| 146 | 650 | Lan Shili | East Star Group | Real estate, airline, tourism |
| 146 | 650 | Li Xiyan | Mindray Medical | Medical devices |
| 146 | 650 | Wang Jianlin | Wanda Group | Real estate |
9. Fastest risers Yang Huiyan is the fastest riser on Rich List with an increase of US$17.2 billion, followed by Zhang Yin, whose wealth increased by US$6.6 billion. Last year, there were ten individuals from Country Garden on the list, six of whom have been replaced by Yang Huiyuan.
| Wealth increase US$ billion | Name | Company | Industry |
| 17.2 | Yang Huiyan | Country Garden | Real estate |
| 6.7 | Zhang Yin & family | Nine Dragons Paper | Paper |
| 5.3 | Peng Xiaofeng | LDK Solar | Solar panel components |
| 5.2 | Xu Rongmao | Shimao | Real estate |
| 4.2 | Zhang Jindong | Suning | Electronic appliance retail, Real estate |
| 4.2 | Zhang Li | R&F Properties | Real estate |
| 4.0 | Xu Jiayin | Hengda | Real estate |
| 3.9 | Lu Zhiqiang | Fanhai | Real estate, finance |
| 3.6 | Guo Guangchang | Fosun | Diversified |
| 3.4 | Zhang Xin & Pan Shiyi | SOHO | China Real estate |
| 3.4 | Rong Zhijian | Citic Pacific | Diversified |
| 3.3 | Huang Guangyu | Pengrun Investments | Electronic appliance retail, Real estate |
| 3.1 | Zhang Guiping | Suning Universal | Real estate |
| 3.0 | Shi Yuzhu | Giant Investments | Online games, Pharmaceuticals, finance |
| 3.0 | Liu Yonghao & family | New Hope Group | Finance, Pig feed, Real estate, Dairy |
10. Industries listed by entrepreneurs as one of their key industries: Property is still king with 24% of entrepreneurs listing it as one of their key industries, followed by manufacturing. The percentage of property tycoons has been diminishing from 26% last year and 45% in 2004. The fastest growing sectors are apparels, mining, services, chemicals,
| Industry | # of indiv | % |
| Property | 220 | 24% |
| Manufacturing | 205 | 22% |
| IT | 73 | 8% |
| Healthcare | 55 | 6% |
| Finance | 47 | 5% |
| Services | 44 | 5% |
| Iron&steel | 41 | 4% |
| Retail | 38 | 4% |
| Food&drinks | 36 | 4% |
| Energy | 36 | 4% |
| Apparels | 33 | 4% |
| Mining | 31 | 3% |
| Chemicals | 22 | 2% |
| Civil infrastructure | 14 | 2% |
| Agriculture | 12 | 1% |
| Oil and gas | 9 | 1% |
| Media | 6 | 1% |
Environmental 5 1%
11. Politics: On the Hurun Rich List, there are 38 delegates to the
National People’s Congress and 41 to the China People’s Political Consultative
Congress (CPPCC). One third estimated to be CCP members.
12. Women: 65 individuals on Hurun 800 led by Yang Huiyan and Zhang Yin at
numbers 1 and 2 respectively. This represents 8% of the total.
13. Self-made women. Led by Zhang Yin, the other top women include Beijing
property developers Zhang Xin (US$3.6 billion) and Chen Lihua (US$2.7 billion),
flavors and fragrances manufacturer Zhu Linyao (US$1.8 billion) and steel
investor Diana Chen Ningning (US$1.3 billion). The role of women in China has
undergone dramatic changes over the last century. Since winning equal status in
the eyes of the law after 1949, women have begun to play a more active role in
Chinese society, but it was not until the beginning of the economic reforms of
1978 that women really began to make their mark in business.
14. Average age: 47.3 years, down slightly from 47.7 years in 2006.
Significant impact on education from ten year Cultural Revolution (1966-76),
when they were on average 8 to 18 years old.
15. The oldest member of the list is Hou Lizun, who is 84 years old and worth
US$130 million.
16. Cashing out: Huang Guangyu has pocketed US$1.2 billion from injecting
privately-owned outlets into his HK-listed vehicle. Second is Rong Zhijian, who
has taken away dividends from Citic Pacific of US$700m over the past decade,
which he has been investing aggressively. Others that have cashed out big-time
include Zhou Qingzhi, who sold his property holdings to Vanke for US$400
million, Liang Liangsheng who just announced the sale of 85% of his cosmetics
group for US$400m, Wang Shusheng who sold his remaining 50% share in Datian to
Fedex for just under US$400 million and Du Sha, who sold his Home World Group
grocery retailer for around US$400 million.
17. Head office locations: Guangdong (139 entrepreneurs), Zhejiang (124),
Beijing (87), Jiangsu (81), Shanghai (76), Fujian (47), Shandong 35, Sichuan
(24), Liaoning (21).
18. Average time to make the rich list is fourteen years from starting-up the
company, meaning they set up their business in 1993.
19. Birthplaces: Zhejiang (115 entrepreneurs), Guangdong (72), Jiangsu (70),
Fujian (45), Shandong (27), Shanghai (27), Sichuan (22), Beijing (19), Hebei
(19), Liaoning (18), Shanxi (18)
20. 28% relocated since birth (birthplace and company head office are
different).
21. Preferred international holiday destinations: 1. Australia, 2. France, 3.
US Mainland, 4. Hawaii, 5. Germany, 6. Japan, 7. Italy, 8. UK, 9. Canada, 10.
Singapore, 11. S Korea, 12. Thailand, 13. Maldives, 14. New Zealand (source:
Hurun 2007 Best of the Best Awards)
22. Preferred domestic holiday destinations: 1. Sanya, 2. Yunnan, 3. Hong
Kong, 4. Hangzhou, 5. Beijing, 6. Qingdao (source: Hurun 2007 Best of the Best
Awards)
23. Preferred luxury brands: 1. BMW, 2. Louis Vuitton, 3. Mercedes Benz, 4.
Rolex, 5. Giorgio Armani, 6. Ferrari, 7. Rolls-Royce, 8. Bentley, 9. Cartier,
10. Vacheron Constantin (source: Hurun 2007 Best of the Best Awards)
24. Social responsibility
With the seventeenth party congress due to kick off next week, entrepreneurs are
keenly aware of the growing rich poor divide and are turning their attention to
being seen as socially responsible. They are beginning to give generously, with
85-year old Yu Pengnian, for example, having donated US$260 million, the bulk of
his wealth, to a fund delivering cataract operations.
2007 Hurun Philanthropy List Top Ten, released April
2007
| Rank | Name | Donations US$m* | Causes | Company |
| 1 | Yu Pengnian | 260 | Cataract operations | Panglin |
| 2 | Zhu Mengyi | 140 | Education, health | Hopson Development |
| 3 | Niu Gensheng | 85 | Social welfare | Mengniu |
| 4 | Huang Rulun | 83 | Education, poverty, health | Jinyuan |
| 5 | Yang Lan & Bruno Wu | 72 | Education, culture | SunMedia Investments |
| 6 | Chen Dexun | 46 | Sports | Mod-Log Industries |
| 7 | Li Shufu | 36 | Education, social welfare | Geely |
| 8 | Duan Yongping | 33 | Education, disaster relief | Bubugao |
| 9 | Huang Nubo | 24 | Sports, social welfare | Zhongkun |
| 10 | Yang Xiu | 17 | Education, social welfare | Tiandi |
* Cash and cash equivalents donated between 2003 and 2007
25. Collecting art Yang Xiu has spent over US$100 million on his art collection.
Chen Lihua has a sandalwood museum.
26. In Jail Two people on the list are in jail: Wu-Mart founder Zhang
Wenzhong and Chuangwei founder Huang Hongsheng.
27. People that probably should be on the list, but about whom there is not
enough publicly-available information, include
▪ Zhang Ruimin, founder of Haier
▪ Wu Guodi, founder of Alison
Petrochemicals
▪ Zhuo Ma, wife of Yuan Baojing, the
entrepreneur executed in 2006 for murder
▪ Yang Guoping, founder of Shanghai-based
Dazhong
▪ Yu Guoqiang, who came to prominence
after buying the Hilton Shanghai. However, Yu has been under house arrest for
the past year following the Chen Liangyu affair. We are unclear as to the
conclusion of this case, so have conservatively kept Yu off the list.
▪ Deng Wendi, the China-born wife of
Rupert Murdoch
▪ Peter
Ma Mingzhi, founder of Ping'An, a financial services co with more a
market cap of US$126 billion. A one percent holding would already make
Ma a billionaire.
28. Impact of capital markets Hong Kong’s capital markets dominate the fortunes of China’s richest with seven of the top ten having their main business listed there.
29. Largest companies by market cap
| Rank | Company | Market Cap US$ billion |
| 1 | Ping'An | 126 |
| 2 | Minsheng Bank | 31 |
| 3 | Country Garden | 28 |
| 4 | R&F Properties | 15 |
| 5 | Citic Pacific | 14 |
| 6 | Suning | 13 |
| 7 | Nine Dragon | 13 |
| 8 | Tencent | 11 |
| 9 | Fosun | 11 |
| 10* | Huawei | 11 |
* Company not listed. Market Cap estimated by comparing with their listed equivalents using prevailing industry P/E ratios.
30. Power List, a ranking of the ten most powerful people from the Hurun Rich List. Released on Oct 8, the fifth Hurun Power List is a ranking of the ten most powerful people from the Hurun Rich List. Top for the fifth year running is Rong Zhijian. The Power List reflects the growing impact the private sector is having on China’s economic development, measured by their political, economic (taxes paid, employees, sales), social and international impact. New to this year’s list are Zhang Yin, Zhang Jindong and Yang Guoqiang switching places with Shen Wenrong, Huang Guangyu and Zong Qinghou.
Hurun Rich List series
The 2007 Hurun Rich List series includes
1. Industry lists: Pharmaceuticals, Property, Energy, IT, Financial Services,
Retail, Steel. These shall be released over the course of the next fortnight.
2. Friday, Oct 13 – Richest Women in China
Royal Salute Backgrounder
As the leading super-premium Scotch whisky in China, Royal Salute 21 year old
was specially created in 1953 to celebrate the coronation of Queen Elizabeth II
of Britain. It derives its name from an ancient tradition - the Royal Navy fires
a 21 gun salute at the ceremony as a show of the highest respect to the
head-of-state. The most precious malt and grain whiskies selected from
Scotland’s highlands are meticulously blended to produce this sumptuous whisky,
which is then filled in selected casks to mature for at least 21 years. The
result is Royal Salute’s rich flavor and special smoothness, earning praise and
admiration worldwide.
Royal Salute is not only full and sumptuous on the inside, but also boasts a luxurious exterior. Its signature porcelain flagons are a tribute to traditional nineteenth-century whisky flagons. Each flagon is emblazoned with the traditional Scottish emblem “A Promise Made in 1801”, quietly yet firmly asserting its illustrious history and exquisite quality. Even more striking are the flagon’s colors of burgundy, blue, and green, chosen to reflect the jewels in the Coronation crown. The flagon is wrapped into an exceptional piece of swan fur, the final touch to Royal Salute’s regal elegance.
In 2002 Royal Salute itself received the ultimate accolade from the Scotch whisky industry when it was awarded the Trophy for Best Blended Scotch Whisky, the most prestigious of prizes, at both the International Spirits Challenge and the International Wine and Spirit Competition. Recently it has added two further jewels to its crown as a leader in the super-premium category, winning a gold medal at the International Spirits Challenge 2005 and being voted ‘Best of the Best’ Scotch Blended Whisky at the esteemed Best of the Best Whisky Awards.
Royal Salute 21 year old represents superior success, unrivalled class and sophistication, and the ultimate in quality and refinement. It is a unique whisky and a genuine international luxury brand.
Click here to learn more on 2007 Hurun Rich List
I have spent most of the past 15 years in the dark side of the rising sun. Until three years ago, I was a crime reporter for the Yomiuri Shimbun, Japan's largest newspaper, and covered a roster of characters that included serial killers who doubled as pet breeders, child pornographers who abducted junior high-school girls, and the John Gotti of Japan.
I came to Japan in 1988 at age 19, spent most of college living in a Zen Buddhist temple, and then became the first U.S. citizen hired as a regular staff writer for a Japanese newspaper in Japanese. If you know anything about Japan, you'll realize how bizarre this is -- a gaijin, or foreigner, covering Japanese cops. When I started the beat in the early 1990s, I knew nothing about the yakuza, a.k.a. the Japanese mafia. But following their prostitution rings and extortion rackets became my life.
Most Americans think of Japan as a law-abiding and peaceful place, as well as our staunch ally, but reporting on the underworld gave me a different perspective. Mobs are legal entities here. Their fan magazines and comic books are sold in convenience stores, and bosses socialize with prime ministers and politicians. And as far as the United States is concerned, Japan may be refueling U.S. warships at sea, but it's not helping us fight our own battles against organized crime -- a realization that led to my biggest scoop.
I loved my job. The cops fighting organized crime are hard-drinking iconoclasts -- many look like their mobster foes, with their black suits and slicked-back hair. They're outsiders in Japanese society, and perhaps because I was an outsider too, we got along well. The yakuza's tribal features are also compelling, like those of an alien life form: the full-body tattoos, missing digits and pseudo-family structure. I became so fascinated that, like someone staring at a wild animal, I got too close and now am worried for my life. But more on that later.
The Japanese National Police Agency (NPA) estimates that the yakuza have almost 80,000 members. The most powerful faction, the Yamaguchi-gumi, is known as "the Wal-Mart of the yakuza" and reportedly has close to 40,000 members. In Tokyo alone, the police have identified more than 800 yakuza front companies: investment and auditing firms, construction companies and pastry shops. The mobsters even set up their own bank in California, according to underworld sources.
Over the last seven years, the yakuza have moved into finance. Japan's Securities and Exchange Surveillance Commission has an index of more than 50 listed companies with ties to organized crime. The market is so infested that Osaka Securities Exchange officials decided in March that they would review all listed companies and expel those found to have links with the yakuza. If you think this has nothing to do with the United States, think again. Americans have billions of dollars in the Japanese stock market. So U.S. investors could be funding the Japanese mob.
I
once asked a detective from Osaka why, if Japanese law enforcement
knows so much about the yakuza, the police don't just take them down.
"We don't have a RICO Act," he explained. "We don't have
plea-bargaining, a witness-protection program or witness-relocation
program. So what we end up doing most of the time is just clipping the
branches. . . . If the government would give us the tools, we'd shut
them down, but we don't have 'em."
In the good old days, the yakuza made most of their money from sleaze: prostitution, drugs, protection money and child pornography. Kiddie porn is still part of their base income -- and another area where Japan isn't acting like America's friend.
In 1999, my editors assigned me to cover the Tokyo neighborhood that includes Kabukicho, Japan's largest red-light district. Japan had recently outlawed child pornography -- reluctantly, after international pressure left officials no choice. But the ban, which is still in effect, had a major flaw: It criminalized producing and selling child pornography, not owning it. So the big-money industry goes on, unabated. Last month's issue of a widely available porn magazine proclaimed, "Our Cover Girl Is Our Youngest Yet: 14!" Kabukicho remains loaded with the stuff, and teenage sex workers are readily available. I've even seen specialty stores that sell the underwear worn by teenage strippers.
The ban is so weak that investigating yakuza who peddle child pornography is practically impossible. "The United States has referred hundreds of . . . cases to Japanese law enforcement authorities," a U.S. embassy spokesman recently told me. "Without exception, U.S. officials have been told that the Japanese police cannot open an investigation because possession is legal." In 2007, the Internet Hotline Center in Japan identified more than 500 local sites displaying child pornography.
There's talk in Japan of criminalizing simple possession, but some political parties (and publishers, who are raking in millions) oppose the idea. U.S. law enforcement officers want to stop the flow of yakuza-produced child porn into the United States and would support such a law. But they can't even keep the yakuza themselves out of the country. Why? Because the national police refuse to share intelligence. Last year, a former FBI agent told me that, in a decade of conferences, the NPA had turned over the names and birthdates of about 50 yakuza members. "Fifty out of 80,000," he said.
This lack of cooperation was partly responsible for an astonishing deal made with the yakuza, and for the story that changed my life. On May 18, 2001, the FBI arranged for Tadamasa Goto -- a notorious Japanese gang boss, the one that some federal agents call the "John Gotti of Japan" -- to be flown to the United States for a liver transplant.
Goto is alive today because of that operation -- a source of resentment among Japanese law enforcement officials because the FBI organized it without consulting them. From the U.S. point of view, it was a necessary evil. The FBI had long suspected the yakuza of laundering money in the United States, and Japanese and U.S. law enforcement officials confirm that Goto offered to tip them off to Yamaguchi-gumi front companies and mobsters in exchange for the transplant. James Moynihan, then the FBI representative in Tokyo who brokered the deal, still defends the operation. "You can't monitor the activities of the yakuza in the United States if you don't know who they are," he said in 2007. "Goto only gave us a fraction of what he promised, but it was better than nothing."
The suspicions about the Yamaguchi-gumi were confirmed in the fall of 2003, when special agents from Immigration and Customs Enforcement (ICE), whom I've interviewed, tracked down several million dollars deposited in U.S. casino accounts and banks by Susumu Kajiyama, a boss known as "the Emperor of Loan Sharks." The agents said they had not received a lead from the Tokyo police; they got some of the information while looking back at the Goto case.
Unlike
their Japanese counterparts, U.S. law enforcement officers are sharing
tips with Japan. Officials from both countries confirm that, in
November 2003, the Tokyo police used information from ICE and the
Nevada Gaming Control Board to seize $2 million dollars in cash from a
safe-deposit box in Japan, which was leased to Kajiyama by a firm
affiliated with a major Las Vegas casino. According to ICE Special
Agent Mike Cox, the Kajiyama saga was probably not an isolated
incident. "If we had some more information from the Japan side," he
told me last year, "I'm sure we'd find other cases like it."
I'm not entirely objective on the issue of the yakuza in my adopted homeland. Three years ago, Goto got word that I was reporting an article about his liver transplant. A few days later, his underlings obliquely threatened me. Then came a formal meeting. The offer was straightforward. "Erase the story or be erased," one of them said. "Your family too."
I knew enough to take the threat seriously. So I took some advice from a senior Japanese detective, abandoned the scoop and resigned from the Yomiuri Shimbun two months later. But I never forgot the story. I planned to write about it in a book, figuring that, with Goto's poor health, he'd be dead by the time it came out. Otherwise, I planned to clip out the business of his operation at the last minute.
I didn't bargain on the contents leaking out before my book was released, which is what happened last November. Now the FBI and local law enforcement are watching over my family in the States, while the Tokyo police and the NPA look out for me in Japan. I would like to go home, but Goto has a reputation for taking out his target and anyone else in the vicinity.
In early March, in my presence, an FBI agent asked the NPA to provide a list of all the members of Goto's organization so that they could stop them from coming into the country and killing my family. The NPA was reluctant at first, citing "privacy concerns," but after much soul-searching handed over about 50 names. But the Tokyo police file lists more than 900 members. I know this because someone posted the file online in the summer of 2007; a Japanese detective was fired because of the leak.
Of course, I'm a little biased. I don't think it's selfish of me to value the safety of my family more than the personal privacy of crooks. And as a crime reporter, I'm baffled that the Japanese don't share intelligence on the yakuza with the United States.
Then again, perhaps I'm being unreasonable. Maybe some powerful Japanese are simply ashamed of how strong the yakuza have become. And if they're not ashamed, they should be.
jla.japan@gmail.com
Jake Adelstein is the author of the forthcoming "Tokyo Vice: An American Reporter on the Police Beat in Japan."
The 20th World Competitiveness Yearbook, released May 15 by IMD business school in Lausanne, Switzerland, ranks the U.S. No.1 for the 15th straight year, but the report's author, professor Stéphane Garelli, expects Singapore to take the top spot next year. (A list of the world's most competitive countries 2008 attached below.)
The small city-state trails the U.S. by less than seven-tenths of a point in the 2008 rankings. While it still has the world's strongest domestic economy, the U.S. is particularly vulnerable because its financial sector contributes 40% to corporate profits.
Meanwhile, Asia has
proven relatively immune to the financial crisis gripping the U.S.
Garelli says that Asia's roaring economies, led by China, will likely
raise their competitive edge relative to the star-spangled superpower
and slowing European countries this year. "Asia is discovering that it
is not so much the hostage of the American economy, that it can have a
life by itself," Garelli says. "They make life difficult for European
countries, especially because, let's face it, Europe is suffering from
the euro."
Among the top 20 economies out of the 55 ranked, those
in Asia-Pacific posted the greatest gains compared with last year.
Malaysia climbed four spots to No.19, while Taiwan and Australia each
jumped five places to No.13 and No.7, respectively. Other strong gains
were made by Thailand, which rose six spots to No.27, and the
Philippines, up five to No.40.
A Detailed Study
IMD produced the rankings using 331 criteria ranging from gross domestic product growth and unemployment to the number of Internet users and the price of local cell-phone calls. Hard data from sources such as the World Bank and U.N. comprised two-thirds of the inputs; the rest came from nearly 4,000 survey responses from executives in each country—many of them IMD alumni—regarding the availability of skilled employees, government regulation, the availability of venture capital, and other more qualitative issues.
The top 10 economies have changed little from last year (BusinessWeek.com, 5/14/07). Iceland, which ranked seventh in 2007, was removed from this year's list due to its volatile economy and financial problems at the local institute that had supplied data to IMD. Hong Kong retained its third-place position, followed by the usual top performers: Switzerland, Luxembourg, and Denmark. Canada moved up two places to No.8, while the Netherlands dropped two to No.10. Sweden remained unchanged at No.9.No.17-ranked
China posted the highest annual GDP growth, 11.9%, "pulling the whole
region upward," Garelli says. In contrast, U.S. GDP rose 2.2%. In turn,
Asian economies are developing not only domestic markets but also
regional ones. Growing investment and trade among Asian nations "is
creating a very strong level of confidence in the region," Garelli
says. The emerging economies of Vietnam and Kazakhstan will join the
rankings before long, he adds.
A Swelling Consumer Class
The
rapid growth of the middle class in emerging economies—particularly in
China and India—will boost consumption in the coming years, and this,
too, will likely influence their ranking. Roughly 50 million people in
India are considered middle class, and this figure will probably swell
to 580 million by 2030, Garelli says. Since 2000, about 600 million
people around the world reached middle-class status, spending an
average of $4 billion annually on brand-name products, new homes,
vacations, and other indulgences.
Here is a list of -
World's 12 Most Competitive Countries:
The 20th annual World Competitiveness Yearbook, published by IMD business school in Lausanne, Switzerland, ranks 55 economies based on economic growth and how they manage their path to prosperity. The U.S. ranks first for the 15th year in a row, but its slim lead over No. 2 Singapore and continuing economic troubles suggest the U.S. may fall from grace next year.
Meanwhile, the roaring Chinese economy has
improved the lot of all of Asia. Singapore and Hong Kong maintained
their second- and third-place positions, respectively, while Taiwan
advanced five spots to No. 13, Malaysia four to No. 19, and Thailand
six to No. 27. European countries still account for half of the top 10,
but Iceland, which placed seventh last year, is absent from the 2008
list due in part to its volatile economy. Peru joined the ranking this
year at a respectable No. 35.
No. 1
U.S.
Ranked No.1 in 2007Per Capita GDP: $43,987
Real GDP Growth: 2.2%
World Competitiveness Rankings:
Economy: 1
Government Efficiency: 18
Business Efficiency: 3
Infrastructure: 1
The
U.S. has ranked first on the World Competitiveness Scoreboard every
year since 1994. But Singapore is closing in fast: The city-state
trailed the U.S. this year by less than 0.7 points. "You cannot avoid
the impact of the financial crisis," says Garelli. Because the credit
crunch only hit home starting last August, Garelli expects its effects
to be more significant in next year's results. But U.S. resilience,
entrepreneurship, and its enduring business infrastructure could
maintain the country's high standing.
No. 2
Singapore
Ranked No.2 in 2007Per Capita GDP: $47,052
Real GDP Growth: 7.7%
World Competitiveness Rankings:
Economy: 3
Government Efficiency: 1
Business Efficiency: 2
Infrastructure: 3
China's
GDP growth of 11.9% last year has helped lift its neighbors. "Singapore
is benefiting from a very buoyant environment," says Stéphane Garelli,
the IMD professor who authored the report. Singapore placed first in
the Asia-Pacific region and among economies with populations less than
20 million. A booming tech sector, low unemployment (2.1%), and zero
foreign debt make Singapore one of the healthiest economies in the
world. Still, a high and rising cost of living, a shortage of primary-
and secondary-school teachers, and insufficient entrepreneurship have
kept the city-state from scoring higher.
No. 3
Hong Kong
Ranked No.3 in 2007Per Capita GDP: $41,110
Real GDP Growth: 6.3%
World Competitiveness Rankings:
Economy: 5
Government Efficiency: 2
Business Efficiency: 1
Infrastructure: 19
Robust
international trade and investment contributed to Hong Kong's high
economic score, but its rankings for cost of living and prices—54th and
51st, respectively—weighed it down. Hong Kong earned high marks for the
teaching of and interest in science, low government debt (1.3% of GDP),
entrepreneurship, and ease of doing business, but low marks for
pollution, spending on health and education, and secondary-school
enrollment. Hong Kong also placed first for stock market capitalization
as a percentage of GDP: 902.6%, up from 593.4% a year ago.
No. 4
Switzerland
Per Capita GDP: $38,131Real GDP Growth: 3.1%
World Competitiveness Rankings:
Economy: 9
Government Efficiency: 3
Business Efficiency: 7
Infrastructure: 2
Switzerland
has continued its climb, moving up two spots from last year and 10
since 2004. It boasts the world's third-largest current account surplus
(16.8% of GDP), low unemployment (3.6%), and the best quality of life
among economies surveyed. Switzerland also placed first in finance and
language skills, first for its credit rating, and second for health
expenditure. Still, weakening purchasing power has held the country
back. It ranked 44th for prices, 50th for cost of living, and 53rd for
cell-phone costs.
No. 5
Luxembourg
Per Capita GDP: $77,187Real GDP Growth: 5.2%
World Competitiveness Rankings:
Economy: 4
Government Efficiency: 14
Business Efficiency: 9
Infrastructure: 18
This
duchy encircled by France, Belgium, and Germany and known for its
financial and legal prowess will have to diversify its economy, control
inflation, and improve public spending to keep pace with its peers.
While it has raised the student-teacher ratio in secondary schools
(9:1), percentage of college graduates (37% of people ages 25-34), and
the number of Internet users (75% of the population), Luxembourg earned
lower marks for GDP growth per capita, exports of goods, economic
diversity, and investment in telecommunications.
No. 6
Denmark
Per Capita GDP: $36,265Real GDP Growth: 1.8%
World Competitiveness Rankings:
Economy: 26
Government Efficiency: 4
Business Efficiency: 5
Infrastructure: 7
The
home of Bang & Olufsen, Lego, and a thriving pharmaceutical
industry falls down on fiscal policy, GDP growth, and cost of living.
Denmark has plenty going for it, placing first in the world for
education, the percentage of broadband subscribers, employee
motivation, positive attitudes toward globalization, and labor
regulation. But it will have to increase spending on research and
development, public services, and its labor force to maintain a
competitive edge.
No. 7
Australia
Ranked No.12 in 2007Per Capita GDP: $36,460
Real GDP Growth: 4.1%
World Competitiveness Rankings:
Economy: 15
Government Efficiency: 5
Business Efficiency: 6
Infrastructure: 16
The
land Down Under jumped five places from last year, well on its way to
recovering its No. 4 spot from 2004. It ranks second to the U.S. among
countries with more than 20 million people, thanks in part to fierce
resilience to economic cycles, the ease of launching startups, and a
high influx of foreign college students. To continue its upward climb,
Australia will have to boost its workforce in light of an aging
population, increase investment in transport, energy, and water
infrastructure, and reform climate-change policy and business
No. 8
Canada
Ranked No.10 in 2007Per Capita GDP: $37,383
Real GDP Growth: 2.7%
World Competitiveness Rankings:
Economy: 11
Government Efficiency: 8
Business Efficiency: 11
Infrastructure: 8
Canada
is inching back toward its No. 3 standing in 2004 with a two-place
improvement this year. It placed second after Australia for the number
of days needed to start a business, third for equal opportunity
legislation, and first for both cell-phone costs and college degrees
(54% of people ages 25-34). To improve its standing, Canada must remove
restrictions on foreign control of domestic companies, reduce taxes on
businesses, and market itself better as a competitive investment locale.
No. 9
Sweden
Ranked No.9 in 2007Per Capita GDP: $34,703
Real GDP Growth: 2.6%
World Competitiveness Rankings:
Economy: 22
Government Efficiency: 11
Business Efficiency: 8
Infrastructure:
The
home base of Ericsson, Ikea, H&M, and Volvo ranked first for
computers per capita and Internet users, and second for
secondary-school enrollment, the efficiency of large corporations, and
expenditure on research and development. But Sweden earned lower marks
for fiscal policy, youth unemployment, and cost of living. To improve
its competitiveness, the country will need to increase its workforce
and working hours, improve education and basic infrastructure, promote
entrepreneurship, and seek more opportunities in emerging markets.
No. 10
Netherlands
Ranked No.8 in 2007Per Capita GDP: $37,743
Real GDP Growth: 3.5%
World Competitiveness Rankings:
Economy: 7
Government Efficiency: 17
Business Efficiency: 12
Infrastructure: 9
The
Netherlands dropped two spots this year, but maintains a five-place
improvement over its position in 2004. The country scored low on
compensation levels, entrepreneurship, and fiscal policy, but high on
pension funding, employment, availability of venture capital, broadband
subscribers, and the ability to attract and retain talent. To improve
its standing, the Netherlands needs to reform its environmental policy,
reduce road congestion and regulatory burdens, and encourage
entrepreneurship and research and development.
No. 11
Norway
Per Capita GDP: $55,610Real GDP Growth: 3.5%
World Competitiveness Rankings:
Economy: 10
Government Efficiency: 15
Business Efficiency: 13
Infrastructure: 10
Norway
climbed two places this year and sharply improved its economic ranking,
jumping 13 spots to 10th place. It boasts the world's richest current
account surplus (17.3% of GDP) and second-largest GDP per capita after
Luxembourg, but ranks low on fiscal policy, compensation levels, cost
of living, the teaching of science in schools, and the number of
qualified engineers. As the third-largest oil exporter after Saudi
Arabia and Russia, Norway could improve its standing in the rankings by
further devoting oil revenues to economic growth.
No. 12
Ireland
Per Capita GDP: $41,708Real GDP Growth: 5.3%
World Competitiveness Rankings:
Economy: 24
Government Efficiency: 7
Business Efficiency: 4
Infrastructure: 23
Worsening
youth unemployment, a formidable currency, and consumer price inflation
hurt Ireland last year, but the country moved up two spots in the
rankings thanks in part to robust investment, improving stock market
capitalization (74.5% of GDP), and exports of commercial services
($87.1 billion). Ireland earned relatively poor marks on economic
performance (down 18 spots since 2004) and infrastructure due to the
relocation of production and services, and low investment in
information and communication technology.
For a complete list of -
World's Most Competitive Countries 2008:
| IMD World Competitiveness Yearbook | WEF Global Information Technology Report | |||
Country | Rank 2008 | Rank 2007 | Rank 2008 | Rank 2007 |
| USA | 1 | 1 | 4 | 7 |
Singapore | 2 | 2 | 5 | 3 |
Hong Kong | 3 | 3 | 11 | 12 |
| Switzerland | 4 | 6 | 3 | 5 |
| Luxembourg | 5 | 4 | 24 | 25 |
| Denmark | 6 | 5 | 1 | 1 |
Australia | 7 | 12 | 14 | 15 |
| Canada | 8 | 10 | 13 | 11 |
| Sweden | 9 | 9 | 2 | 2 |
| Netherlands | 10 | 8 | 7 | 6 |
| Norway | 11 | 13 | 10 | 10 |
| Ireland | 12 | 14 | 23 | 21 |
Taiwan | 13 | 18 | 17 | 13 |
| Austria | 14 | 11 | 15 | 17 |
| Finland | 15 | 17 | 6 | 4 |
| Germany | 16 | 16 | 16 | 16 |
China Mainland | 17 | 15 | 57 | 59 |
New Zealand | 18 | 19 | 22 | 22 |
Malaysia | 19 | 23 | 26 | 26 |
| Israel | 20 | 21 | 18 | 18 |