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Is China facing a "wealth drain"? [Copy link] 中文

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Post time 2016-11-9 10:09:31 |Display all floors

(SCMP) More than 60 per cent of China’s richest people plan to invest in properties abroad in the next three years, with three American cities – Los Angeles, San Francisco and Seattle – topping their list of destinations, syas an annual report compiled jointly by the Hurun Reportmagazine and Visas Consulting. There are an estimated 1.34 million rich Chinese with wealth worth 10 million yuan or more. In their choice of emigration and investment destination, the US topped the list, followed by Britain, Canada, Australia and Singapore.

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Post time 2016-11-9 22:20:16 |Display all floors
why ?
Round Up is good for developing the mind

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Post time 2016-11-10 08:20:31 |Display all floors
China would make the same mistake like Japan for trying to buy the whole USA..?

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Post time 2016-11-10 10:02:42 |Display all floors
Dracarys Post time: 2016-11-10 08:20
China would make the same mistake like Japan for trying to buy the whole USA..?

When the Chinese rich emigrate they are not necessarily buying up the U.S.A.

They are transferring huge amounts of lucre abroad. This lucre then is missing in China.

That is the weightiest downside to it. The C.P.C. may rejoice as those rich usually acquired their wealth through improper means and might one day be repatriated to return the money and spend the rest of their lives in jail.

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Post time 2016-11-11 06:34:45 |Display all floors
That has been going on for a long time and the 'higher ups' in the Chinese gov't have always been doing just that.

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Post time 2016-11-11 07:49:30 |Display all floors
1105852048 Post time: 2016-11-11 06:34
That has been going on for a long time and the 'higher ups' in the Chinese gov't have always been do ...

Actually no. This has only been going on for maybe two decades or even less; before that only the poor and the educated left China. They had no money to transfer. The Party made a few individuals gloriously rich but their patriotism stops at where their interests begin. It's the same with some Party members: rich but not gloriously so, assets safely stashed away in vaults which possibly are overseas.

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Post time 2017-8-12 19:34:16 |Display all floors
Dracarys Post time: 2016-11-10 08:20
China would make the same mistake like Japan for trying to buy the whole USA..?

Good observation

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