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China’s high net-worth population expanding

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China is seeing an increase in its number of high net-worth individuals, driven by relative stable economic growth over the last five years amid the global downturn.

This change has been noted by Superyachts.com, a trade site for super yachts, which identified Asia as a growing market, as rich Chinese change their attitudes towards luxury goods.

A report released by Accenture in 2012 also noted that countries in the Asia Pacific region were expected to be among the world’s largest economies in the coming years. As a result, the number of high net-worth individuals in these areas is likely to rapidly increase.

The report said, “The demographic make-up of these countries also makes them extremely enticing to wealth managers, as their populations are educated and technologically savvy. In addition, they have rising disposable incomes, a strong appetite for luxury western brands and growing interest in sophisticated wealth management services.”

The 2013 Wealth Report from Credit Suisse found that since 2000, wealth per adult has almost quadrupled in China. Despite this, the country has significant inequality created by a strong urban-rural divide. However, the increasing wealth of successful entrepreneurs, professionals and investors means that over one million residents are now millionaires.

Despite global austerity, figures show that the world’s richest have gotten richer, with a marked increase in the number of billionaires seen in Asia. Since 2009, billionaires’ collective fortunes have doubled worldwide, with a 13% increase in the number of super-rich in Asia.

Spear’s magazine and wealth consultancy firm WealthInsight also noted the emergence of high net-worths in China when analysing philanthropic donations in 2013. They said that whilst European and American millionaires were currently the most generous in their giving, competition from China, India and the Middle East was likely to change this in the coming years.

Further reading:

China faces food shortage over polluted agricultural land

China embarks on world’s biggest ever renewables drive

10 biggest philanthropic donations of 2013 reach $20bn

Wealth of billionaires grew in 2013 despite global austerity

Global wealth at ‘all-time high’ of $241tn, but inequality still rife

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

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energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

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Economy

IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”

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IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.

Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.

Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.

Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:

“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.

We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.

There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.

We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”

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