Thursday, June 22, 2006

People's Daily Online -- New elite of super-rich emerge in developing nations

People's Daily Online -- New elite of super-rich emerge in developing nations: "Developing countries are experiencing a rapid emergence of a new elite of super-rich individuals as their economies expand and mature.

A report published on Tuesday shows that the number of 'high net-worth individuals' (HNWI) increased by 21 per cent in South Korea, 19 per cent in India and 17 per cent in Russia over the past year.

These dramatic increases in individual wealth were largely as a result of booming stock markets the Dow Jones South Korea Index gained 55 per cent in 2005, for example."

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