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Resource ID: #26520
Subject: Real Estate
Source: 60 Minutes
Affiliation: 
Date: 3/3/13

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Description

This two-part report peers into China's opaque economy through the windows of its gleaming new skyscrapers to reveal seemingly polar realities. On one hand, we look at the promise of the “new China” by profiling commercial real estate developer Zhang Xin, whose journey from a Maoist reeducation camp and sweatshops to becoming one of the richest women on earth is a metaphor of China's rise from the backwaters of Communism to, as some put it, “Capitalism on steroids.” It's the American dream lived out in Beijing. Xin's buildings are modern shrines to Capitalism and globalism - statements of how China is opening up to Western ideas. But with financial gain comes a yearning for more. In a surprising moment, Xin publicly challenged her country's leaders on our air, saying the current political system inevitably must be replaced by democracy: a rare and brave statement to make in such a forum.

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