Skip to comments.Top of Chinese wealthy's wish list? To leave China
Posted on 09/07/2011 3:48:22 AM PDT by TigerLikesRooster
Top of Chinese wealthy's wish list? To leave China
By LOUISE WATT - Associated Press | AP 1 hour 21 minutes ago
BEIJING (AP) Chinese millionaire Su builds skyscrapers in Beijing and is one of the people powering China's economy on its path to becoming the world's biggest.
He sits at the top of a country economy booming, influence spreading, military swelling widely expected to dominate the 21st century.
Yet the property developer shares something surprising with many newly rich in China: he's looking forward to the day he can leave.
Su's reasons: He wants to protect his assets, he has to watch what he says in China and wants a second child, something against the law for many Chinese.
The millionaire spoke to The Associated Press on condition that only his surname was used because of fears of government reprisals that could damage his business.
China's richest are increasingly investing abroad to get a foreign passport, to make international business and travel easier but also to give them a way out of China.
Lowering his voice, he said for many rich there are worries about the authoritarian government. "This is a very sensitive topic. Everyone knows this. It's freer and more just abroad," he said.
(Excerpt) Read more at my.news.yahoo.com ...
What is not even said in this "private" conversation is that they all sense a massive upheaval is coming in China. The communist regime will draw inspiration from Mao in order to stay in power. They may not be sweeping mass murders like Mao, but things will be bad. That scares lots of well-heeled people now.
While Chinese wealthy folks are getting out of dodge, Jim Rogers still continue to hang onto his “happy Chinese dream.”:-)
Now his feelings are in print. Think he’ll be safe, now?
Hey dont make fun of soothsayers and profets why whom will common folk seek advice from. In great ones defense they are touting Singapore as land of the rich and home of great medical system .
I believe Jim Rogers resides in Singapore not the PRC.
It's freer and more just abroadAnd the air's cleaner. Much cleaner.
theres more economic freedom in china, than in USA
theres more political freedom in US than in China
I know, but he is a “China bull.” I agree with most of what he says, but not his opinion on China.
That upheaval has a name. It is the Crash of the Dollar.
When the Chinese hoard of American dollars becomes worthless there will be a massive upheaval in China that will cause a major change in the government as blame is laid on those in power and a new government comes to power in tide of blood.
They frequently lie about their numbers.
The chinese economy is built on as much hot air as the real estate market was in the US. Sooner or later it will fall.
Youc an write the script..
I was down on Rogers’ claims and his self-centered motives for trying to prop up the emerging markets nearly two years ago. The signs were already visible that Chinese “growth” was largely a fabrication and a bubble.
But he wanted the economic focus to shift from America and the West to the East, and he’s still singin’ that tune.
Liberal MSM is always surprised when people want freedom.
It would not surprise me in the least to see hardliners gain control after the fall.
It is human nature to return to the familiar after a cataclysm and the Chinese have always had authoritarian governments.
Jim Rogers has, no doubt, homes and properties in a dozen countries. He’s not worried about being stuck in China.
Despite the laundry list he presented, this is the real reason. They're hedging their bets, that's all. Once they secure foreign citizenship, they go right back to China and continue to make money. People did that in Hong Kong, Taiwan, Singapore, etc. And now China.
The reality is, there is an increasing number of Chinese students who have chosen to return to China for better opportunities. And even Chinese, with American citizenships, who are not wealthy, returning to China for business opportunities.
Once again, the wealthy are just hedging their bets because they can afford to. But I'm convinced, China's political system will continue to change. And in another generation, people will move to China to hedge their bets.