Understanding China, One Blog at a Time

An American in China

Today in History- The World and China

Posted by w_thames_the_d on December 5, 2010


On December 5, 1991 a fighter squadron was lost in the Bermuda triangle. YOu can check the link for the specifics.
On December 5 in China, not much happened. China was still a very poor and backwards place. At this time if you had 10,000 RMB or about 1600U$ you could buy a Beijing disco, as many did. So, if you had had the good fortune of leaving China before the tian.en.man horror, maybe you went to a foreign country, made realy money, came back to china and were rich.
In the 90’s most people did not have money, I mean that many of my friends did not have, nor had touched money till the mid to late 90’s. One good friend of mine had a great job in 1998, he was paid about 400rm or U$60 per month!
To them, being a millionaire was unheard of, they just wanted to be a ten thousand rmb person.
Nowadays, they have many millionaires, corruption, western funds and stolen technology have assisted greatly to this end.

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