Such a sad headline, “Billionaires Fall on Harder Times“. Tucked in the article though is a telling factoid:
“The billionaire population in the U.S. grew by only five last year to 538, but that was offset by Asia, which is creating one billionaire every three days led by China.”
Meanwhile, a Chinese car and battery maker has invested $750 million in mass transit. More specifically, monorail.
The company says, “. . . building a monorail system requires only a fifth of the capital expenditure of a metro line and a third of the construction time.”