Heirs of Chinese Businessmen Will Squander Fortunes

Yuan Qingpeng says the Chinese who have become rich under the economical reform movement in China are apprehensive. They are worried their spoiled kids won’t understand how to hang on to the loot.

“Their capability to withstand hardship and put things into practice is less than the first generation,” Yuan says of the children of the rags-to-riches pioneers who have transformed China’s once-moribund business landscape.

That is where his Beijing Business Management Scientific Research Institute comes in. Read More »