Word of the Day: “Baofahu”

“a Chinese term for people who have experienced an “explosion” of wealth but lack financial and cultural sophistication. Shanxi is a hotbed for such investors, many of whom got rich during the coal boom. “They just look at the yield,” he says, “and they don’t pay attention to the risk. And sometimes the bank’s salespeople do not explain the risks properly.”   –  FT,  1/2/2016

(WOTD = Word of the Day)

 

Advertisements
This entry was posted in China, Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s