Fuerdai

Fuerdai (Chinese: 富二代; pinyin: Fù'èrdài; lit. 'rich second generation'; [fû.âɚtâɪ]) is a Chinese term for the children of the nouveau riche in China.[1][2][3] This term, generally considered pejorative, is often invoked in the Chinese media and everyday discussions in mainland China as it incorporates some of the social and moral problems associated with modern Chinese society.[4][5]

The Chinese economic reform in the late 1970s has enabled some to accumulate great amounts of wealth.[6] While the Fuyidai, the parents of the Fuerdai, may have reached their new socioeconomic position either through their success in business or through political connections, their children often enjoy a comfortable lifestyle with an obstacle-free life path.[7][8]

Many wealthy Chinese send their children abroad for their education.[2] In the United States, Europe, and parts of Canada, well-off Chinese international students ostentatiously consume products that are too expensive for almost all North American and European students.[9][10] Universities view such students favorably, since they pay higher tuition fees.[11][12]

  1. ^ Sun, Rebecca (November 4, 2016). "'Crazy Rich Asians' Author on Extravagant Chinese Spending Habits: "It Was Like Giving a Pubescent Kid an Amex Black Card"". The Hollywood Reporter. Archived from the original on November 25, 2023. Retrieved November 25, 2016.
  2. ^ a b Fan, Jiayang (February 22, 2016). "The Golden Generation: Why China's super-rich send their children abroad". The New Yorker. Archived from the original on February 29, 2024. Retrieved November 25, 2016.
  3. ^ Hakim, Danny; Abrams, Rachel (April 18, 2017). "Ivanka Trump's Global Reach, Undeterred by a White House Job". The New York Times. Archived from the original on April 19, 2017. Retrieved April 19, 2017.
  4. ^ Steinfeld, Jemimah (2015). Little Emperors and Material Girls: Sex and Youth in Modern China. Bloomsbury Academic. p. 57. ISBN 978-1-78076-984-4.
  5. ^ Shyong, Frank (August 13, 2016). "To be young, rich and Chinese in America: Amid all that flashy spending, a sense of loss". Los Angeles Times. Archived from the original on February 5, 2023. Retrieved November 25, 2016.
  6. ^ Bruk, Diana (April 14, 2016). "Check Out the Insanely Lavish Lives of the Rich Kids of China". Cosmopolitan. Archived from the original on December 7, 2022. Retrieved November 25, 2016.
  7. ^ Beam, Christopher (September 30, 2015). "Children of the Yuan Percent: Everyone Hates China's Rich Kids". Bloomberg. Retrieved December 13, 2015.
  8. ^ Xiang, Nina (October 19, 2015). "Are China's Fuerdai Wisely Investing, Or Wasting Their Parents' Money?". Forbes. Archived from the original on May 22, 2021. Retrieved November 25, 2016.
  9. ^ "Young, rich and Chinese: it's life in the fast lane for the emerging class of fuerdai". South China Morning Post. Associated Press. August 19, 2016. Archived from the original on November 29, 2022. Retrieved November 25, 2016.
  10. ^ Higgins, Tim (December 19, 2013). "Chinese Students Major in Luxury Cars". Bloomberg. Retrieved December 13, 2015.
  11. ^ "Annual Financial Statements – The University of Queensland" (PDF). Annual Report. 2020. ISSN 1837-6606. Archived (PDF) from the original on July 19, 2020. Retrieved July 19, 2020.
  12. ^ Robinson, Natasha (August 20, 2019). "Australian universities risk catastrophe due to over-reliance on Chinese students, expert warns". ABC News. Archived from the original on June 18, 2020. Retrieved July 19, 2020.