Giant Robot Store and GR2 News
The Richest 70 Chinese legislature members (89.8 billion) have more money than all of Congress and more (7.5 billion). Basically, it averages that each of the 70 Chinese politicians is a billionaire. What’s the end kicker is China is 1/6 in terms of adjusted buying power. Meaning, the money goes even further. More noodles for them! (Shanghaiist – Rich China Politicians)
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Lin Shuhao trademarked in China in 2010 which means legit Jeremy Lin products will probably emerge. It seems like challenging these in China is a tough business. Perhaps he can just make his own bootlegs and beat the real thing. (WSJ – Lin TM)
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A little interview with Kobe Bryant about Basketball in China. He’s become well spoken and isn’t licking his lips so much anymore. Yes, he’s a grown up with grown up problems too. For a minute, he seems down with the cause. (LA Times – Kobe) [youtube]FTXYTofDHJc[/youtube]
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A hot trending article in China is about the man who hit a Rolls Royce and now owes more than his value. He’s sold everything and still doesn’t have enough. He’d have to work 41 years to save enough for the bumper. This shows the huge separation of incomes which is far greater than you’d imagine. (chinasmach – Rolls)
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Starbucks in China is becoming huge. 500 shops in China, and they’re doing better than shops in the US in terms of profit. Yes, labor and material has to be much cheaper for this to be so, if it’s also written that its sales are considerably lower! They can also charge more in China. According to USA Today, “Carrying a Starbucks cup is seen as a status symbol, a way to demonstrate sophistication and the capability to afford a personal luxury for the up-and-coming middle class in China.” (USA Today – Starbucks) No matter how it’s working, it’s actually becoming a bigger success as compared to many fast food outlets who focused on speed and efficiency over comfort and luxury – which is what some of China wants.
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