

Why Are Chinese Millionaires So Stingy? - askar_yu
http://www.tnr.com/blog/foreign-policy/78049/chinese-philanthropy-bill-gates-warren-buffett

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TGJ
_Huff_ "Why don't people give their money away like I want them too?" _Huff_

"The busy Mr. Zong said he thinks philanthropy is a bad idea. He can do much
more for society by running a productive business, the beverage billionaire
noted. Not every Chinese tycoon is so cold-hearted, however. "

So the guy thinks he can do better for people by running a business and that
makes him cold hearted. Just what exactly is going on here? Who are these
people to tell other people what to do with their money? Who are these people
that think they know better how money should be used? Who are these people and
what's their cut?

People that want other people to give away their money to help other people
are just as selfish as the people that have the money. They want other people
to do good things so they can feel warm and fuzzy knowing that good things are
being done and they had a part in it, without actually doing anything at all
like earning the money that did those good deeds. It's the grasshopper and the
ant all over again just pointed in a different direction.

~~~
DannoHung
Did you even read the rest of the article? It goes on to explain that one of
the largest reasons for an absence of philanthropy in China is because of
Government interference with charitable organizations; the necessity for a
government sponsor, the inability for a non-sponsored organization to get
funding because of the fear of government reprisal.

A lack of Government intervention is _apparently_ only good when it involves
the accumulation of wealth by a few, is that right?

~~~
narrator
The Chinese gov probably wants to keep the "Tax-Exempt Foundations" from
gaining too much influence. The Chinese are very paranoid about influence in
their society. They shut down bloggers who get popular, even if they're just
talking about stock tips or dating. They shut down talent shows and
professional sports if there's any individual who is becoming too popular.
That's why there is comparatively little sports and celebrity culture in
China. When the average Chinese person looks out into eternity, the Chinese
government wants them to see what the Chinese government wants them to see and
not a bunch of celebrities and sports stars, as the average citizens of
western nations do.

------
credo
See [http://www.theglobeandmail.com/news/world/chinese-
philanthro...](http://www.theglobeandmail.com/news/world/chinese-
philanthropist-donates-it-all/article1650447/) for another example - a Chinese
philanthropist who donated his entire fortune (more than $1 Billion) to
charity.

A quote from him " _If my children are competent, they don’t need my money,
Mr. Yu explained. If they’re not, leaving them a lot of money is only doing
them harm._ "

~~~
OmniBus
Hong Kong is a quite different place. It differs from Mainland China. It
preserves Chinese traditional values while accepts Western values.

Traditionally, Chinese manages themselves according Confucian, Buddhist and
Taoist views. Riches are encouraged to donate in order to secure better later
life, reincarnation, lives of offsprings. Sometimes it was rewarded with some
good "titles" from mandarin. Communist in Mainland Chines destroyed all the
traditions while Hong Kong preserves it.

In Hong Kong, there are many international non-government organisation.
Western type of charities can establish in Hong Kong. Some of them extends
their charity services into China based in Hong Kong. Charity fund-raising
happens all round the years.

------
prodigal_erik
Charity is implicitly a critique of a government's inability to meet its
citizens' urgent needs. I'm not surprised that an allegedly communist
government doesn't like attention drawn to problems it isn't solving yet
should be.

------
DevX101
This article was awfully condescending and insulting to the wealthy in China.
I stopped reading a few paragraphs in.

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ebaysucks
The author's remark on how it's impossible to become rich in China without
being corrupt is extremely ignorant.

------
gojomo
The author overlooks the same factors that cause non-millionaire Chinese to
have such a high savings rate: uncertainty about health, retirement, and
social stability.

There's none of the social insurance that exists in North America or Europe;
less than 50 years ago there were serious famines; the regime itself is only
about 60 years old and the current era of economic liberalization only about
30 years old.

In such a environment, people will be a bit more clingy "just in case" they're
going to need every last cent in an upheaval.

