Billionaires in China

 
 
 
 

Vocabulary

fund	exclusive	grand prix
layout	privilege	showcase
yacht	epitome	infrastructure
bid	circulate	contemporary
lure	reluctant	background
scandal	incessant	contaminate
rumble	appetite	simultaneously
trend	warm up	anonymous
evolve	left wing	collectively
irony	modesty	temptation
opaque	embody	transaction
propel	heritage	discontent
creep	pioneer	pilgrimage
auction	succumb	stowaway
impart	speculate	impoverish
dispute	purpose	conspicuous
meager	ideology	intricately woven
deposit	outlook

 
 
 
 
 

Video

 

 
 
 
 

Transcript

The Formula One Circuit in Shanghai was built to host the world’s best drivers in the Chinese Grand Prix.

But visit in any weekend of the year, and you’re less likely to find the world’s fastest men than China’s richest.
The most exclusive car club in the country, has rented the track once again.

The sports car club has now 1,000 members.

According to the club president, there are very strict conditions for membership, even for the wealthiest of businessmen.

Club President: “The minimum requirement for membership is a Porsche 911 or a Nissan GTR, a two-door sports car that accelerates from zero to 100 in 4.5 seconds.”

This condition reveals a second, less openly required condition for membership: large, personal wealth.

In addition to the cars, a weekend at the Formula One Racetrack costs at least 10,000 euros.

The members gathered today comprise a second generation of privilege for whom expensive hobbies are now no longer out of reach.

For these two young men, the expense is not a problem.

Lee Chau and Zhang Yichun have traveled from Beijing. They’re entrepreneurs and car enthusiasts.

Their annual budget for the hobby is up to 500,000 euros.

Zhang Yichun: “Everyone has their own idea of a sports car. The Porsche 911 is very popular in Europe. Of course a Ferrari is very good and expensive. I could just as easily afford one of those.

But I like my Porsche 911 because the engine sits in the back and the turbo goes properly.

He isn’t exaggerating.

In fact on this point, he is impressively convincing.

Mr. Zhang paid about 200,000 euros for his Porsche. He also owns a BMW. And an Audi.

And these are just his race cars, used only for his hobby.

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Questions

1. The main requirement for membership at the race car club is a passion for cars and racing. Is this true or false? What are the reasons for coming to the Formula One Race Track?

2. Is Lee Chau a professional race car driver? What was his big break?

3. How are the British, French, Germans and Italians reacting to China’s success?

4. Hainan Island has undergone a complete transformation. Is this right or wrong? What has happened in Hainan Island?

5. Do the billionaires usually come from rich families? What are some of their sources of wealth?

6. Is art collecting popular? Why do people buy artwork?

7. Huaxi has changed over the years. Yes or no? What do they say about Huaxi?

8. What does the documentary say about Sheizhang and Zhou Xiaoguang? What business is she in? Does she have any hobbies?
 
 
A. How do the rich earn their money (in your country and in elsewhere)?

B. How do they invest or spend their money?

C. Are rich people envied, resented, admired, respect, loved, hated or all of the above?

D. Are more people getting richer, poor, both or neither?

E. What may happen in the future?