Given the difference in culture, it would be expected that Chinese philanthropy will be different from philanthropy in the West. Bill Gates and Warren Buffet are going to China to meet with the billionaires in that country. Given the lack of transparency, it is not always clear how people made their money, or if and how they might give it away. Since the natural disasters of 2008, the Chinese government is letting the private sector help out more. I suspect that most of Chinese philanthropy will be aimed at situations in China, and not on the world level. But time will tell. Meanwhile, here is an article from the New York Times on the subject.
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