Despite giddy Chinese art prices showing some strain from global economic uncertainty, art collectors think values will continue to rise due to limited supply and continued strong demand as Asian collectors become more affluent […]
Tag: Merrill Lynch
Demand for art, watches, rare wines, vintage cars and other offbeat investments expanded in 2010 as the world’s super-rich rebounded from the financial crisis, according the latest World Wealth Report […]
More than half of nearly 800 wealthy Chinese recently polled believe the widening gap between the rich and poor is also creating an emerging upper class in China […]
India, China, and Brazil saw bigger growth in the millionaire population last year than anywhere else, and wealth in the Asia-Pacific is expected to grow nearly 8 percent a year to 2012 despite a slowdown in the world at large, a survey showed. The number of millionaires in the Asia-Pacific grew 8.7 percent from a year ago to 2.8 million people and their combined wealth soared 12.5 percent to $9.5 trillion US dollars, excluding the value of their homes and consumables, Merrill Lynch and Capgemini said at a news conference in Singapore recently…
With the opening to new markets and the growth of the Chinese economy, a new social class has emerged — to some extend, unthinkable in a Communist China: the millionaires. According to a survey from Cap Gemini/Merrill Lynch, the number of millionaires (in US Dollars) in China have reached more than 230,000. The large majority of these new riches choose Shanghai to invest their money and also spend their money…