That grand project, however, is now on hold because China’s stock market crash, beginning in mid-June, resulted in the loss of most of Wang’s net worth. Wang may still harbor grand ambitions, but now he has no means to achieve them.
China’s brassy leaders also think big, but soon their dreams will be beyond their grasp as well. In all likelihood, the fate of their plans tomorrow will mirror Wang’s today.
Gordon G. Chang is the author of The Coming Collapse of China. Follow him on Twitter @GordonGChang.
Image: Wikimedia Commons/Uri Tours.