中国新兴富豪猛增

What has caused the rapid growth in the super-rich? Does it mean that we should expect to live in a world with growing wealth inequality? First, where are the new billionaires expected to come from? In a notable shift, there will be more billionaires in Asia than North America or Europe within a decade, and other emerging economies will also count more super-rich in their populations. The US will still have the most billionaires, but China is catching up quickly. The growth rates reflect the rise of wealth in the emerging world and there's another indicator of the shift in economic weight from West to East. It also adds to the wealth inequality that already exists in many countries, not only in emerging economies but in developed countries, too.

Michael let me start with you. What is causing this rapid growth of billionaires in Asia?

The major point is that we have a lot of start-ups with very dynamic entrepreneurs who are actually making a lot of money, because there are no constraints, there's no bureaucracy in the same way as in Europe, so, and there's a huge market for them to sell to. So I think this is generating profit.