11 August 2015
In China they call them fuerdai, literally speaking “the second-generation rich”. they are young and hugely wealthy, the sons of the businessmen who partook of the Chinese economic boom. Cars, luxury holidays, clothes, watches and especially high-tech gadgets.The fuerdai show off their status on the social networks (especially Weibo, the Chinese Instagram) and are truly hooked on the internet, spending at least 14 hours a day on the web. A social phenomenon that has got even President Xi Jinping worried. He has invited their parents to teach them the value of the money they flaunt so brazenly.
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