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EARN MONEY / Re: Is net asset of one million dollars(family) at above the 90th percentile in SH?
« on: December 20, 2024, 08:29:47 PM »
I think your reasoning makes sense overall, but jumping to the 99th percentile might be a bit high for Shanghai. While the GDP per capita is much lower than Canada, Shanghai is a major financial hub with a significant number of wealthy individuals, so the wealth distribution is likely skewed. If I had to guess, $1 million might put you in the 90th-95th percentile range, but probably not above 99th. I’ve seen some discussions online where people mention how property values alone in Shanghai can inflate net worth significantly, even for middle-class families, so it’s hard to say without more detailed data on the median.