Chinese fuerdai takes over the West

She had recently had her first child but seemed remarkably slender, and wore a pink baby-doll dress so elaborately feathered that, in combination with her towering Gucci heels, it gave her the appearance of a tottering baby ostrich. Ray, a finance student at U.B.C., had brought her boyfriend, who is also a fuerdai. Pam, at twenty-six, was the oldest of the group and the most reflective. As the women waited for the filming to start, they inspected one another’s outfits and accessories in forensic detail, but there was warmth as well as competitiveness in their manner, as if a life of continual consumption had fostered a kind of intimacy.

Brialliant profile on China's new rich, they only kind of rich there is.

But it's not all pointing fingers at the ultra-rich; there's a history lesson to be had:

Only in the nineteenth century did it become evident that the West had outstripped China, especially in the field of military technology. The Opium Wars, which were fought over China’s trade imbalance with Britain, resulted in a humiliating defeat and, ultimately, the end of the Empire. “China’s first encounter with globalization led to its collapse, one from which the country has never completely recovered,” Khan said. “The emergence of a new Chinese élite is China’s second moment of encounter with these global processes, and it’s interesting how certain dimensions are reversed.”